Which of the Following Journal Entries Is Correct When a Business

question 118

Multiple Choice

Which of the following journal entries is correct when a business entity purchases a building by paying cash and by signing a note payable for the balance? A. Building
$\quad$ Cash
$\quad$ Notes Payable
B. Building
$\quad$ Cash
C. Cash
$\quad$ Notes Payable
$\quad$ Building
D. Building
$\quad$ Cash
$\quad$ Notes Payable

• A) Option A
• B) Option B
• C)Option C
• D)Option D