A Company pays a deposit toward the lease of its building. The entry to record that transaction should be: Group of answer choices A debit to cash and a credit to deposits A debit to deposits and a credit to cash

A Company pays a deposit toward the lease of its building. The entry to record that transaction should be: Group of answer choices A debit to cash and a credit to deposits A debit to deposits and a credit to cash

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 3MC: To purchase an asset such as office equipment on account, you would credit which account? (a) Cash...

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Question

A Company pays a deposit toward the lease of its building. The entry to record that transaction should be:

Group of answer choices

A debit to cash and a credit to deposits

A debit to deposits and a credit to cash

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