Gently Laser Clinic purchased laser equipment for $5,186 and paid $618 down, with the remainder to be paid later. The correct entry would bea. Equipment Expense5,186Accounts Payable618Cash4,568Ob. Equipment618Cash618Oc. Cash6184,568Accounts PayableEquipmentOd. Equipment5,1865,1864,568Accounts PayableCash618

Accounting Transaction: An economic event, which causes impact (increases or decreases the value…

Answered: Gently Laser Clinic purchased laser…

Gently Laser Clinic purchased laser equipment for $5,186 and paid $618 down, with the remainder to be paid later. The correct entry WOUIU DU

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Gently Laser Clinic purchased laser equipment for $5,186 and paid $618 down, with the remainder to be paid later. The correct entry would be
a. Equipment Expense
5,186
Accounts Payable
618
Cash
4,568
Ob. Equipment
618
Cash
618
Oc. Cash
618
4,568
Accounts Payable
Equipment
Od. Equipment
5,186
5,186
4,568
Accounts Payable
Cash
618

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