The purchase of office equipment at a cost of $3,600 with an immediate down payment of $1,000 and agreement to pay the balance within 60 days is recorded by:
a. A debit of $3,600 to Office Equipment, a credit of $1,000 to cash, and a credit of $2,600 to Accounts Payable.
b. A debit of $2,600 to Accounts Receivable, a debit of $1,000 to Cash, and a credit of $3,600 to Office Equipment.
c. A debit of $3,600 to Office Equipment, a credit of $1,000 to Cash, and a credit of $2,600 to Accounts Receivable.
d. None of these choices
a
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