The General Journal Entry to Record the Purchase of an Asset

question 45

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 Cash.
• D) a debit to Supplies and a credit to Cash.

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Definitions:

Psychotic Disorders

A group of serious mental disorders that affect the mind, causing individuals to lose touch with reality, experiencing delusions and hallucinations.

Antisocial Personality Disorder

A psychological disorder defined by a persistent behavior of exploiting, manipulating, or infringing upon the rights of others over an extended period.

Erratic Discipline

An inconsistent approach to discipline, which may lead to confusion and unpredictability in behavioral guidance.

Physically Abused

Experiencing harm or injury to the body by another person through actions like hitting or beating.