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:

Comorbidity

The occurrence of two or more diseases or disorders in the same individual at the same time.

DSM-IV-TR Disorder

A mental or behavioral condition as classified in the Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, Text Revision.

Causality

The relationship between cause and effect, where one event is understood to be the direct result of another.

Diagnostic System

A framework or methodology used for identifying and classifying diseases or psychological conditions.