The Entry to Record the Purchase of a Machine on Account

question 106

Multiple Choice

The entry to record the purchase of a machine on account that costs $15,000,installation costs,$1,500,and freight,$700,would be:

• A)debit Machinery $15,000;credit Accounts Payable $15,000.
• B)debit Machinery $15,000;debit Expenses 2,200;credit Accounts Payable $17,200.
• C)debit Machinery $17,200;credit Accounts Payable $17,200.
• D)debit Machinery $16,500;debit Freight Expense 700;credit Accounts Payable $17,200.

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Definitions:

Guo And Saxton

References a study or framework by researchers Guo and Saxton focusing on social media strategies, online engagement, or philanthropy in the context of nonprofit organizations.

Community

A group of people living in the same place or having a particular characteristic in common, often with a sense of fellowship.

Program Advocacy

The act of actively supporting or promoting a particular program, policy, or initiative, often within the context of non-profit organizations or government agencies.

Board Of Directors

A group of individuals elected to represent shareholders and oversee the activities and strategic direction of an organization.