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liubo4ka [24]
3 years ago
8

George Bailey purchased equipment from M. Potter for $450,000, paying $35,000 cash as a down payment and financing the remainder

. The correct journal entry to record this event is:
Business
1 answer:
Lorico [155]3 years ago
6 0

Answer:

Equipment $450,000 (debit)

Cash $35,000 (credit)

Suppliers Loan $415,000 (credit)

Explanation:

George Bailey must recognize the Asset of Equipment, de-recognize the Assets of Cash and recognize the Suppliers Loan as above.

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income risk

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Do you think competition between co-workers is healthy destructive unavoidable
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Define private equity funds economics. ​
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The relationship between quantity supplied and price is _____
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Explanation:

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3 years ago
g Enchancia Inc. reported the following information at its annual meeting: The company had cash worth $3,290,558, accurals of $5
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$5,354,741

Explanation:

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