A Company Purchased a Truck for $800 on Credit

question 73

Multiple Choice

A company purchased a truck for $800 on credit.The journal entry to record this transaction,however,was a debit to 'Truck' for $500 and a credit to 'Account Payable' for $500.What will the effect be on the trial balance?

• A)Debits will be $300 less than credits.
• B)Debits will be $300 more than credits.
• C)The trial balance will still balance.
• D)None of the above

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