Question
e Course Viewer e Course Viewer NextStep Program Ne tStep Program NSP blac KDOdra CALCUL CALCULATOR FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 181 Equipment costing $20,000 machine is purchased by paying $5,000 cash and signing a note payable for the remainder. The journal entry should indlude a te payable for the remainder. The journal entry should indude a O credit to Notes Payable. O credit to Equipment. O debit to Cash. O credit to Notes Receivable Question Attempts: 0 of 1 used SAVE FOR LATER SUBN Copyright 2000-2015 by John Wiley & Son 2000-2015 by John Wiley & Sons, Inc. or related companies. All rights reserved. Copyright
Explanation / Answer
Answer: credit to Notes Payable.
Because The entry is:
Equipment A/c Dr.20000
To cash A/C $5000
To Notes Payable A/C $15000
