Dawes Pty Ltd purchased plant for $7000,paying $1000 cash and giving a 12-month promissory note for the balance.The transaction would be recorded as:
A. DR Plant $\quad $ CR Cash

B. DR Plant $\quad $ CR Cash $\quad $ CR Note payable

C. DR Plant $\quad$ CR Note payable

D. DR Note receivable $\quad $ CR Cash $\quad $
CR Plant

Question

Dawes Pty Ltd purchased plant for $7000,paying $1000 cash and giving a 12-month promissory note for the balance.The transaction would be recorded as:
A. DR Plant  $\quad $ CR Cash

B. DR Plant  $\quad $ CR Cash $\quad $ CR Note payable

C. DR Plant $\quad$ CR Note payable

D. DR Note receivable $\quad $  CR Cash $\quad $ 
CR Plant

Quizplus · Accepted Answer

The Answer of Dawes Pty Ltd purchased plant for $7000,paying $1000 cash and giving a 12-month promissory note for the balance.The transaction would be recorded as:
A. DR Plant  $\quad $ CR Cash

B. DR Plant  $\quad $ CR Cash $\quad $ CR Note payable

C. DR Plant $\quad$ CR Note payable

D. DR Note receivable $\quad $  CR Cash $\quad $ 
CR Plant

Dawes Pty Ltd Purchased Plant for $7000,paying $1000 Cash and Giving