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Equipment costing $16000 is purchased by paying $4000 cash and signing a note payable for the remainder. The journal entry should include a:_______

a. credit to Cash.
b. credit to Equipment.
c. credit to Notes Receivable.
d. debit to Notes Payable.

Respuesta :

abiolataiwo2015

Answer:

c. credit to notes payable

Explanation:

Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE

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