7: Purchased a building with a market value of $ 120 comma 000$120,000, and land with a market value of $ 24 comma 000$24,000. The business paid $ 45 comma 000$45,000 cash and signed a note payable to the bank for the remaining amount I'm confused as too which is credit and how to add the answer to the balance sheet etc.
7: Purchased a building with a market value of $ 120 comma 000$120,000, and land with a market value of $ 24 comma 000$24,000. The business paid $ 45 comma 000$45,000 cash and signed a note payable to the bank for the remaining amount I'm confused as too which is credit and how to add the answer to the balance sheet etc.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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7: Purchased a building with a market value of
$ 120 comma 000$120,000,
and land with a market value of
$ 24 comma 000$24,000.
The business paid
$ 45 comma 000$45,000
cash and signed a note payable to the bank for the remaining amount
I'm
confused as too which is credit and how to add the answer to the
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