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

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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.

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