A business paid $48,000 cash to purchase equipment. The business would:
A) debit Equipment for $48,000 and credit Accounts Payable for $48,000.
B) debit Equipment for $48,000 and credit Cash for $48,000.
C) debit Cash for $48,000 and credit Notes Payable for $48,000.
D) debit Accounts Payable for $48,000 and credit Cash for $48,000.
Correct Answer:
Verified
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