A Journal Entry to Record the Purchase of Equipment on Credit

question 65

Multiple Choice

A journal entry to record the purchase of equipment on credit is posted to the

• A) debit side of Cash.
• B) debit side of Equipment.
• C) credit side of Cash.
• D) credit side of Equipment

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Definitions:

Demand For Minerals

The need or desire for minerals, driven by their use in various industries including manufacturing, technology, and construction.

Subsistence Farmers

Farmers who grow food crops to meet the needs of themselves and their families, with little or no surplus for trade.

Severe Deforestation

The widespread and rapid removal or destruction of forests at an alarming rate, leading to ecological imbalance.

Draft Animals

Animals that are trained and used for heavy physical work, such as plowing fields and pulling carts.