A company purchased $7,000 of supplies and testing equipment on credit. Enter the appropriate amounts that reflect this transaction into the accounting equation format shown below.
$$\begin{array} { | c | c | c | }
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

Question

A company purchased $7,000 of supplies and testing equipment on credit. Enter the appropriate amounts that reflect this transaction into the accounting equation format shown below.
 $$\begin{array} { | c | c | c | } 
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of A company purchased $7,000 of supplies and testing equipment on credit. Enter the appropriate amounts that reflect this transaction into the accounting equation format shown below.
 $$\begin{array} { | c | c | c | } 
\hline \text { Assets } = & \text { Liabilities } + & \text { Equity } \
\hline & & \
\hline
\end{array}$$

A Company Purchased $7,000 of Supplies and Testing Equipment on Credit