Gently Laser Clinic purchased laser equipment for $4,429 and paid $806 down, with the remainder to be paid later. The correct entry would be a. Account Debit Credit Cash 806 Equipment 806 b. Account Debit Credit Cash 806 Accounts Payable 3,623 Equipment 4,429 c. Account Debit Credit Equipment Expense 4,429 Accounts Payable 806 Cash 3,623 d. Account Debit Credit Equipment 4,429 Accounts Payable 3,623 Cash 806 e. Account Debit Credit Equipment 806 Cash 806
Gently Laser Clinic purchased laser equipment for $4,429 and paid $806 down, with the remainder to be paid later. The correct entry would be a. Account Debit Credit Cash 806 Equipment 806 b. Account Debit Credit Cash 806 Accounts Payable 3,623 Equipment 4,429 c. Account Debit Credit Equipment Expense 4,429 Accounts Payable 806 Cash 3,623 d. Account Debit Credit Equipment 4,429 Accounts Payable 3,623 Cash 806 e. Account Debit Credit Equipment 806 Cash 806
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Gently Laser Clinic purchased laser equipment for $4,429 and paid $806 down, with the remainder to be paid later. The correct entry would be
a.
| Account | Debit | Credit |
|---|---|---|
| Cash | 806 | |
| Equipment | 806 |
b.
| Account | Debit | Credit |
|---|---|---|
| Cash | 806 | |
| Accounts Payable | 3,623 | |
| Equipment | 4,429 |
c.
| Account | Debit | Credit |
|---|---|---|
| Equipment Expense | 4,429 | |
| Accounts Payable | 806 | |
| Cash | 3,623 |
d.
| Account | Debit | Credit |
|---|---|---|
| Equipment | 4,429 | |
| Accounts Payable | 3,623 | |
| Cash | 806 |
e.
| Account | Debit | Credit |
|---|---|---|
| Equipment | 806 | |
| Cash | 806 |
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