Question

Lassiter Industries purchased equipment for $140,000. Lassiter expects to use the equipment over the next 10 years. Recording this transaction would include a

Answer 1

Debit equipment for the amount of $140,000

Step-by-step explanation:

Based on the information we were told that the industries purchased an equipment for the amount of $140,000 in which the equipment is expected to be use over the next 10 years which means that Recording this transaction would include a DEBIT to equipment for the amount of $140,000 which is the amount that was used to purchased the equipment.

Hence, we are going to Dr Equipment for $140,000