Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company purchased equipment for use in the busin

A company purchased equipment for use in the business at a cost of $14,000, one-fourth...

70.2K

Verified Solution

Question

Accounting

A company purchased equipment for use in the business at a cost of $14,000, one-fourth was paid in cash, and the company signed a note for the balance. The journal entry to record this transaction will include a:

A. debit to Equipment of $3,500.

B. credit to Notes Payable of $10,500.

C. debit to Cash of $14,000.

D. debit to Notes Payable of $10,500.

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

Chemistry
1.2K views

Acid deposition is the transfer of acids in the atmosphere to Earth\'s surface through precipitation, fog,...

Physics
1.2K views

1. Several forces act on an object at rest. It is known that the sum of...

Physics
1.2K views

5 A simple pendulum is oscillating with time period T Now charge q is given...

Physics
1.2K views

T m 1 A mg cot 2 B mg cot 0 C mg tan 0...

Basic Math
1.2K views

For the following structure which is proper symmetry or antisymmetry boundary condition can be used...

Basic Math
1.2K views

Which of the graphs shows exponential decay 20 40 0 07 9 00000000 5 10...

Statistics
1.2K views

A new muscle relaxant is available Researchers from the firm developing the relaxant have done...

Calculus
1.2K views

fferentiation of Vector Valued Functions In Exercises 3 4 5 6 7 8 2 and...

Accounting
1.2K views

what is the answer to problem 7-17? http://www.chegg.com/homework-help/Managerial-Accounting-15th-edition-chapter-7-problem-17P-solution-9780078025631 here is a link...

Accounting
1.2K views

Zhao Company has fixed costs of $354,000. Its single product sells for $175 per unit,...

Accounting
1.2K views

LuLu Islands Incorporated reports a beginning cash balance of $16 million. LuLu also reports cash...

Finance
1.2K views

The ILO's core labour standards have an impact when... They are enforced by the United...