Show the effect on the accounting equation of:
a.)purchasing the truck by signing a $35,000 installment note and
b.)the entry to record the first payment.
c.Will leasing the truck require different entries?
d.Is it ethical for a company to acquire the use of assets by renting them?
Definitions:
Systematic Desensitization
A behavioral therapy technique aimed at reducing phobic or anxiety responses by gradual exposure to the feared object or situation paired with relaxation techniques.
Cognitive Therapy
A form of psychotherapy that aims to change negative patterns of thinking or behavior that contribute to an individual's psychological distress.
Token Economy
A behavioral modification system based on the systematic reinforcement of target behavior through the distribution and exchange of tokens.
Counterconditioning
A behavior therapy technique where a maladaptive response to a stimulus is replaced with a more desirable one.
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