The beginning balance in the Equipment account was$4,500.The company purchased an additional$2,500worth of Equipment. The ending...
The beginning balance in the Equipment account was$4,500.The company purchased an additional$2,500worth of Equipment. The ending balance in the account is:
A.credit of $4,500.
B.credit of $2,000.
C.debit of $2,000.
D.debit of $7,000.
Homework Answers
Answer D) debit of $7,000 ( since all assets have debit balance)
A) Beginning Balance $4,500
B) Purchase of equipment $2,500
C) Ending balance $7,000 ( A+B)
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