Journal Entries: Business Formation Example Video Lessons

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Problem: A business purchases equipment for cash of $85,000. This transaction will cause: a. capital to be credited for $85,000 b. cash to be debited for $85,000 c. equipment to be credited for $85,000 d. cash to be credited for $85,000

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Problem Details

A business purchases equipment for cash of $85,000. This transaction will cause:

a. capital to be credited for $85,000

b. cash to be debited for $85,000

c. equipment to be credited for $85,000

d. cash to be credited for $85,000

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What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Journal Entries: Business Formation Example concept. You can view video lessons to learn Journal Entries: Business Formation Example. Or if you need more Journal Entries: Business Formation Example practice, you can also practice Journal Entries: Business Formation Example practice problems.

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Our tutors rated the difficulty ofA business purchases equipment for cash of $85,000. This tra...as low difficulty.

What professor is this problem relevant for?

Based on our data, we think this problem is relevant for Professor Freeland's class at OHIO.