6 . a business purchases equipment by paying $7,000 in cash and issuing a note payable of $18,000. which of the following occurs? a. cash is credited for $7,000, equipment is debited for $25,000, and notes payable is credited for $18,000. b. cash is debited for $7,000, equipment is credited for $18,000, and notes payable is debited for $11,000. c. cash is debited for $7,000, equipment is debited for $18,000, and notes payable is credited for $25,000. d. cash is credited for $7,000, equipment is credited for $25,000, and notes payable is debited for $18,000.

Question

21-12-2022
Business

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6 . a business purchases equipment by paying $7,000 in cash and issuing a note payable of $18,000. which of the following occurs? a. cash is credited for $7,000, equipment is debited for $25,000, and notes payable is credited for $18,000. b. cash is debited for $7,000, equipment is credited for $18,000, and notes payable is debited for $11,000. c. cash is debited for $7,000, equipment is debited for $18,000, and notes payable is credited for $25,000. d. cash is credited for $7,000, equipment is credited for $25,000, and notes payable is debited for $18,000.

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Tutorconsortium410 Tutorconsortium410 · Answer 1 · 2022-12-25T19:52:02+01:00

If a business purchases equipment by paying $7,000 in cash and issuing a note payable of $18,000 then cash is credited for $7,000, equipment is debited for $25,000, and notes payable is credited for $18,000.

What qualifies as an enterprise?

A company or entrepreneurial entity that engages in business, industrial, or professional activity is referred to as a business. Both for-profit and nonprofit organizations can operate as businesses. Limited liability firms, corporations, partnerships, and sole proprietorships are all examples of different business structures.

Why is business such a big deal?

Our lives depend on business in many ways. To begin with, they provide products and services to meet our needs and desires. Then, they employ homes as workers and pay them for their services with wages, salaries, and benefits. As a result, it turns into a source of revenue that they may utilize to support their way of life.

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