Concord Company purchases equipment for $2770 and supplies for $400 from Ivanhoe Co. for $3170 cash.
The entry for this transaction will include:
A. credit to Cash for Ivanhoe.
B. credit to Accounts Payable for Concord.
C. debit to Equipment $2770 and a debit to Supplies $400 for Concord.
D. debit to Equipment $2770 and a debit to Supplies Expense $400 for Ivanhoe.
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