The Purchase of Land for a Combination of Cash and a 15-Year

question 37

Multiple Choice

The purchase of land for a combination of cash and a 15-year note would require which of the following entries?

• A)Dr.Land, Dr.Cash, Cr.Long-term note payable
• B)Dr.Land, Cr.Cash, Cr.Long-term note payable
• C)Dr.Cash, Cr.Long-term note payable, Cr.Land
• D)Dr.Land, Dr.Long-term note payable, Cr.Cash

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Definitions:

Psychosocial

Pertaining to the influence of social factors on an individual's mind or behavior, and the interrelation of behavioral and social factors.

Heredity

The genetic transmission of physical or mental traits from one generation to the next.

Biological Parents

The parents who have contributed their genetic material to the birth of a child, also known as birth parents.

Individual Differences

Differences in characteristics, influences, or developmental outcomes.