When a company purchases an asset but only pays for a portion of it and owes the remainder, which of the following is true?
A. The asset is debited for the amount paid. The amount owed will be debited to the asset once paid.
B. The asset is credited for the amount paid plus the amount owed.
C. The asset is debited for the amount paid plus the amount owed.
D. The asset is credited for the amount paid. The amount owed will be debited to the asset once paid.
Answer: C
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