July 3 Purchase storage container equipment on account for $8,000. (1 CORRECT answer has to be properly FORMATTED i.e. debit first, credit second with amounts in proper column). A) Equipment Cash B) Equipment C) Cash 8,000 Equipment 8,000 8,000 Accounts Payable 8,000 8.000 8,000

July 3 Purchase storage container equipment on account for $8,000. (1 CORRECT answer has to be properly FORMATTED i.e. debit first, credit second with amounts in proper column). A) Equipment Cash B) Equipment C) Cash 8,000 Equipment 8,000 8,000 Accounts Payable 8,000 8.000 8,000

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Description: July 3 Purchase storage container equipment on account for $8,000. (TheCORRECT answer has to be properly FORMATTED i.e. debit first, creditsecond with amounts in proper column).A) EquipmentB) EquipmentC) CashCashCashEquipmentOD) Equipment8,0008,000A

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.4C

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

July 3 Purchase storage container equipment on account for $8,000. (The
CORRECT answer has to be properly FORMATTED i.e. debit first, credit
second with amounts in proper column).
A) Equipment
B) Equipment
C) Cash
Cash
Cash
Equipment
OD) Equipment
8,000
8,000
Accounts Payable
8,000
8,000
8,000
8,000
8,000
8,000

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