Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a business purchases equipment by paying $9,023 in

A business purchases equipment by paying $9,023 in cash and issuing a loan payable of...

70.2K

Verified Solution

Question

Accounting

image
A business purchases equipment by paying $9,023 in cash and issuing a loan payable of $16,446. Which of the following occurs? OA. Cash is credited for $9,023, equipment is debited for $25,469 and loan payable is credited for $16,446. OB. Cash is debited for $9,023, equipment is credited for $16,446 and loan payable is debited for $7,423. OC. Cash is debited for $9,023, equipment is debited for $16,446 and loan payable is credited for $25,469. O D. Cash is credited for $9,023, equipment is credited for $25,469 and loan payable is debited for $16,446

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

KAMA Calculate the shortest and longest wavelengths i Lyman series of hydrogen spectrum

Finance
1.2K views

A loan of $100,000 is made today. This loan will be repaid by 10 level repayments,...

Biology
1.2K views

From an evolutionary sense the fittest refers to a the best able to avoid being...

Geometry
1.2K views

The piston moves from the Top dead center as a result of a changecrank angleratio...

Basic Math
1.2K views

The manager at the local auto shop has found that the probability that a car...

Accounting
1.2K views

as an example, a large company that you know about that would have many units...

Accounting
1.2K views

5. You are asked to create a database to store customer and order information. The...

Accounting
1.2K views

Assume that Division Blue has achieved a yearly operating income of $158,000 using $928,000 of...

Accounting
1.2K views

A company's inventory records indicate the following data for the month of January: ...

Accounting
1.2K views

1. Activity Base Costing (ABC) 25 points Yanguba has two produce lines for it well...

Accounting
1.2K views

1) Based on the financial statements of Home Depot for the fiscal year that ended...

Finance
1.2K views

Portfolio B consists of 15 stocks, 10 of which have beta 1 and idiosyncratic variance...