Homework Answers
| The journal entry to record purchase of Equipment is: | |||
| Debit | Credit | ||
| Equipment | 85132 | =100000+10000-24868 | |
| Discount on notes payable | 24868 | ||
| Notes payable | 100000 | ||
| Cash | 10000 | ||
| Option A $85,132 is correct | |||
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Question 8 Gold Co purchased equipment from Marshall Co, on July 1. Gold paid Marshall $10,000...
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