Cameron Diaz Corporation Purchased a Computer System for $20,000

question 94

Multiple Choice

Cameron Diaz Corporation purchased a computer system for $20,000.The company paid $5,000 cash and issued a $15,000 note payable for the entire balance.The journal entry to record this transaction includes a(n) ________.

• A)debit to Equipment for $20,000
• B)credit to Accounts Payable for $15,000
• C)debit to Expense for $20,000
• D)credit to Cash for $20,000

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Definitions:

Dollar Votes

A term suggesting that consumers participate in the market and influence production and consumption patterns through their spending choices.

Product Market

The marketplace where final goods or services are traded between producers and consumers.

Coordination Problem

A situation where the components of a system fail to work together effectively, leading to inefficient or undesirable outcomes.

Incentive Problem

A situation where the incentives or motivations of individuals or groups do not align with broader organizational or societal goals.