The purchase of an automobile with a cash down payment and a written promise to pay the balance in the future would include a:
A) credit to Cash and a credit to Note Payable
B) debit to Cash and a credit to Automobile
C) debit to Note Payable and a credit to Cash
D) debit to Cash and a debit to Note Payable
Correct Answer:
Verified
Q50: An owner makes an investment of cash
Q51: The accounting transaction to record payment of
Q52: Receiving a cheque from a customer on
Q53: Making a cash payment to settle a
Q54: An owners' investment of land and a
Q56: The accounting transaction to record payment of
Q57: Credits to revenue accounts ultimately result in:
A)
Q58: Purchasing a three-year insurance policy for cash
Q59: Paying by cheque to settle a debt
Q60: The purchase of a building with a
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