Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a business purchases equipment by paying $9,087 in

A business purchases equipment by paying $9,087 in cash and issuing a note payable of...

70.2K

Verified Solution

Question

Accounting

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 credited for $9,087, Equipment is debited for $22,351, and Notes Payable is credited for $13,264. C) Cash is debited for $9,087, Equipment is debited for $13,264,and Notes Payable is credited for $22,351. D) Cash is debited for $9,087, Equipment is credited for $13,264, and Notes Payable is debited for $4,177

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An open container holds ice of mass 0.565kg at a temperature of -13.5?C . The mass of the...

Physics
Q

N Normal n affected What are the chances of having an affected male 1 Point...

Biology
Q

A skylab of mass m kg is first lauched from the surface of the earth...

Physics
Q

A sample of radioactive material decays over time measured in hours with decay constant 2...

Calculus
Q

ABC Company has the following costs when produce 100.000 units Variable...

Accounting
Q

Help needed with calculations part a is not $26,542 and part b is...

Accounting
Q

On April 5, 2023, Kinsey places in service a new automobile that cost $70,000. He...

Accounting
Q

Approximately how much money must you put in your retirement account each year for a...

Accounting
Q

please help Ivanhoe Ltd. estimates sales for the second quarter of...

Accounting
Q

PART ONE Home Remodeling Inc. recently obtained a short-term bank loan from City National Bank....

Accounting
Q

Croce, Inc., is investigating an investment in equipment that would have a useful life of...

Accounting
Q

1. Ameren has issued a preferred stock which pays a $6.50 fixed annual dividend and...

Accounting