Mendel Co. paid $8,000 cash for a delivery truck to be used in its business. Whi
ID: 2372261 • Letter: M
Question
Mendel Co. paid $8,000 cash for a delivery truck to be used in its business. Which of the following is the correct journal entry to record this transaction? Answer Debit cash $2,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit cash $8,000. Debit accounts payable $8,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit accounts receivable $8,000. Mendel Co. paid $8,000 cash for a delivery truck to be used in its business. Which of the following is the correct journal entry to record this transaction? Debit cash $2,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit cash $8,000. Debit accounts payable $8,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit accounts receivable $8,000. Debit cash $2,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit cash $8,000. Debit accounts payable $8,000; credit delivery truck $8,000. Debit delivery truck $8,000; credit accounts receivable $8,000.Explanation / Answer
DR Delivery Truck 8,000
CR Cash 8,000
(B)