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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A business purchases equipment by paying $9,087 in cash and issuing a note payable of $13,264. Which of the following occurs?
A) Cash is credited for $9,087, Equipment is credited for $22,351, and Notes Payable is debited for $13,264.
B) Cash is debited for $9,087, Equipment is debited for $13,264,and Notes Payable is credited for $22,351.
C) Cash is credited for $9,087, Equipment is debited for $22,351, and Notes Payable is credited for $13,264.
D) Cash is debited for $9,087, Equipment is credited for $13,264, and Notes Payable is debited for $4,177.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
7 years ago
Excellent Slight Smile
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