A Business Purchases Equipment by Paying $7,517 in Cash and Issuing

question 179

Multiple Choice

A business purchases equipment by paying $7,517 in cash and issuing a note payable of $19,410.Which of the following occurs?

• A) Cash is credited for $7,517, Equipment is credited for $26,927, and Notes Payable is debited for $19,410.
• B) Cash is credited for $7,517, Equipment is debited for $26,927, and Notes Payable is credited for $19,410.
• C) Cash is debited for $7,517, Equipment is debited for $19,410, and Notes Payable is credited for $26,927.
• D) Cash is debited for $7,517, Equipment is credited for $19,410, and Notes Payable is debited for $11,893.

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Definitions:

Medical Group

An organized team of healthcare professionals, such as doctors and nurses, who provide a wide range of medical services to patients.

Management Role

Involves responsibility for strategizing, leading, and overseeing the operational and strategic aspects of an organization to achieve its objectives.

Practice Manager

A professional responsible for overseeing the business operations of a medical, dental, or healthcare practice, ensuring efficiency and quality care.

Office Manager

An individual responsible for overseeing the day-to-day administrative operations of an office.