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Question 28 (2 points)

Luca, Inc. purchases equipment costing $5,000. The company paid $2,500 right away and charge the remaining amount. To record this transaction, the company would: 

A.Debit Equipment $5,000; Credit Cash $1,500 and Credit Accounts Payable $2,500

B.Debit Equipment $5,000; Credit Cash $2,500 and Credit Accounts Payable $1,500

C.Debit Equipment $2,500; Credit Cash $2,500 and Credit Accounts Payable $5,000

D.Debit Equipment $5,000; Credit Cash $2,500 and Credit Accounts Payable $2,500

Question 29 (2 points)

Ella, Inc. purchases equipment costing $7,000. The company paid $2,000 right away and charge the remaining amount. To record this transaction, the company would: 

A.Debit Equipment $7,000; Credit Cash $2,000 and Credit Accounts Receivable $5,000

B.Debit Equipment $7,000 and Credit Accounts Payable $5,000

C.Debit Equipment $7,000; Credit Cash $2,000 and Credit Accounts Payable $5,000

D.Debit Equipment $7,000; Credit Cash $7,000

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