Which of the Following Journal Entries Would Be Recorded If $$\begin{array} { | l | r | r | } \hline \text { Cash } & 3,000 & \\\hline \text { Equipment } & & 3,000 \\\hline\end{array}$$

question 51

Multiple Choice

Which of the following journal entries would be recorded if a business purchased equipment for $3,000 cash?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 3,000 & \\
• \hline \text { Equipment } & & 3,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Equipment } & 3,000 & \\
• \hline \text { Cash } & & 3,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 3,000 & \\
• \hline \text { Accounts payable } & & 3,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Equipment } & 3,000 & \\
• \hline \text { Accounts payable } & & 3,000 \\
• \hline
• \end{array}\]

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Definitions:

John Quincy Adams

The sixth President of the United States, who previously played key roles in diplomacy and politics, and was notably involved in the "Corrupt Bargain" controversy.

Corrupt Bargain

A term referring to the alleged behind-the-scenes deal made during the 1824 U.S. presidential election, which supposedly led to John Quincy Adams being elected President and Henry Clay becoming his Secretary of State.

American System

An economic plan that played a significant role in American policy during the early 19th century, advocating for a strong federal government to create a protective tariff, a national bank, and internal improvements.

Corrupt Bargain

A term often used to describe the alleged deal between John Quincy Adams and Henry Clay that purportedly led to Adams winning the presidency in 1824 in return for appointing Clay as Secretary of State.