Cameron Diaz Corporation purchased a computer system for $19,000. The company paid $4,000 cash and issued a $15,000 note payable for the entire balance. The journal entry to record this transaction includes a ________.
A) debit to Equipment for $19,000
B) credit to Accounts Payable for $15,000
C) debit to Expense for $19,000
D) credit to Cash for $19,000

Question

Quizplus · Accepted Answer

The purchase of the computer system is recorded as a debit to Equipment for $19,000, reflecting the increase in assets.

Cameron Diaz Corporation Purchased a Computer System for $19,000