The General Journal Entry to Record the Purchase of an Asset

question 35

Multiple Choice

The general journal entry to record the purchase of an asset for cash would include:

• A)a debit to Accounts Receivable and a credit to Fees Earned.
• B)a debit to Equipment and a credit to Accounts Payable.
• C)a debit to Accounts Payable and a credit to Equipment.
• D)a debit to Supplies and a credit to Cash.

---

Definitions:

Email Signature

A block of text automatically appended at the end of an email message that often contains the sender's name, contact information, and sometimes a quote or a company’s logo.

Email Provider

A service or company that offers email services, facilitating sending, receiving, and managing electronic mail messages.

Reminder

A tool or feature in an application that alerts the user to perform a predetermined task or remember an event at a specified time.

Hyperlinks

Elements in electronic documents that link to other sections of the same document or to entirely different documents or websites, typically activated by clicking.