acquisition of equipment on account

kekebrown · #1 Aug 28, 2008, 05:46 PM

Which of the following entries records the acquisition of equipment on account?

a. Equipment, debit; Accounts Payable, credit
b. Equipment, debit; cash, credit
c. Accounts payable, debit; Equipment, credit
d. Accounts payable, debit; notes payable, credit

I think the answer is A

hotline15 · Sep 6, 2008, 01:25 PM

correct



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!