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A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which ...

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A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which ...

A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291. Which of the following occurs?
A) Cash is credited for $6,081, Equipment is credited for $18,372, and Notes Payable is debited for $12,291.
B) Cash is credited for $6,081, Equipment is debited for $18,372, and Notes Payable is credited for $12,291.
C) Cash is debited for $6,081, Equipment is debited for $12,291,and Notes Payable is credited for $18,372.
D) Cash is debited for $6,081, Equipment is credited for $12,291, and Notes Payable is debited for $6,210.

Textbook

Horngren's Accounting

Edition: 11^th

Authors: Miller-Nobles, Mattison, Matsumura

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