Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a:

Question

3 years ago

10

Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a:

A. debit to Land and a debit to Cash. B. debit to Cash and a credit to Land. C. credit to Land and a credit to Cash. D. debit to Land and a credit to Cash.

Business

1 answer:

Annette [7] · Answer 1 · 2022-01-10T14:34:55+03:00

Annette [7]3 years ago

5 0

Answer:

A. debit to Land and a debit to Cash.

Explanation:

Land, an asset, is increased with a debit, and cash, another asset is decreased with a credit.