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Jaye Company purchased a new building by signing a note for . The entry to record the transaction​ is:

1 Answer

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Answer:

b. building 28,000

notes payable 28,000

Step-by-step explanation:

jaye company purchased a new building by signing a note for $28,000. the entry to record the transaction is:

a. building 28,000

cash 28,000

b. building 28,000

notes payable 28,000

c. note payable 28,000

cash 28,000

d. cash 28,000

note payable 28,000

Jaye's company is signing a note of 28,000 and purchasing a building of 28,000

The entry to record Jaye company's transaction is building 28,000, notes payable 28,000

The transaction will not be recorded in

Building:28,000, cash:28,000.

Note payable:28,00, cash:28,000

Cash:28,000, note payable:28,000

Therefore the correct answer is

b. building 28,000

notes payable 28,000

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