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:

Electrician

A skilled tradesperson who installs, maintains, and repairs electrical power systems and equipment.

Pilot Device

A device used to control or manipulate the operation of electrical machines through minor input adjustments.

Two-wire Motor

A motor that operates with a simple on-off control, requiring only two wires for operation.

Motor Starter

A control device that initiates the operation of an electric motor by managing electrical current flow.