Please answer the question correctly. Thank you. The journal entry to record the purchase of equipment for a P100,000 cash downpayment and a balance of P400,000 due in 30 days would include:O a debit to Equipment for P100,000 and a credit to Cash for P100,000.a debit to Equipment for P500,000 and a credit to Cash for P500,000.O a debit to Equipment for P100,000 and a credit to Accounts Payable for P400.000.O a debit to Equipment for P500,000, a credit to Cash for P100,000, and a credit to AccountsPayable for P400,000.

Introduction:- Company purchases equipment P500,000 Cash paid P100,000 Balance payment in 30 days…

The journal entry to record the purchase of equipment for a P100,000 cash down payment and a balance of P400,000 due in 30 days would include: O a debit to Equipment for P100,000 and a credit to Cash for P100,000. O a debit to Equipment for P500,000 and a credit to Cash for P500,000. a debit to Equipment for P100,000 and a credit to Accounts Payable for P400,000. O a debit to Equipment for P500,000, a credit to Cash for P100,000, and a credit to Accounts Payable for P400,000.

The journal entry to record the purchase of equipment for a P100,000 cash down payment and a balance of P400,000 due in 30 days would include: O a debit to Equipment for P100,000 and a credit to Cash for P100,000. O a debit to Equipment for P500,000 and a credit to Cash for P500,000. a debit to Equipment for P100,000 and a credit to Accounts Payable for P400,000. O a debit to Equipment for P500,000, a credit to Cash for P100,000, and a credit to Accounts Payable for P400,000.

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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