A Company Purchased Equipment for Use in the Business at a Cost

question 45

Multiple Choice

A company purchased equipment for use in the business at a cost of $12,000,one-fourth was paid in cash,and the company signed a note for the balance.The journal entry to record this transaction will include a:

• A) debit to Notes Payable of $9,000.
• B) debit to Cash of $12,000.
• C) credit to Notes Payable of $9,000.
• D) debit to Equipment of $3,000.

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Definitions:

Axial Skeleton

The part of the skeleton that consists of the bones of the head and trunk of a vertebrate.

Scapula

The shoulder blade.

Foraminae

Natural openings or holes, especially in bones, through which nerves and blood vessels pass.

Vertebrae

The bones in the spinal column.