Ask Question
BusinessBusiness
14 November, 12:21

Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a: A. debit to Land and a debit to Cash. B. debit to Cash and a credit to Land. C. credit to Land and a credit to Cash. D. debit to Land and a credit to Cash.

+3
Answers (1)
  1. 14 November, 12:49
    0
    A. debit to Land and a debit to Cash.

    Explanation:

    Land, an asset, is increased with a debit, and cash, another asset is decreased with a credit.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a: A. debit ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What is an advantage of government bonds?
Answers (1)
What is most likely to cause a variation in customer-perceived value?
Answers (1)
A restaurant has been sued because a customer claims to have found a bug in her chili. The company's lawyers believe there is only a remote possibility that the lawsuit will result in an actual liability.
Answers (1)
when ups invested in a foreign tech startup, ally commerce inc., to give ups greater access to online sales, it was exemplifying
Answers (1)
Suppose that initially the price is $50 in a perfectly competitive market. firms are making zero economic profits. then the market demand shrinks permanently and some firms leave the industry and the industry returns back to a long-run equilibrium.
Answers (1)
New Questions in Business
Pronghorn Company's income statement for the year ended December 31, 2020, contained the following condensed information.
Answers (1)
Why would firms that rely heavily on credit sales find factoring attractive?
Answers (1)
Many cooks view butter and margarine to be substitutes. if the price of butter rises, then in the market for margarine:
Answers (1)
Last year, Richmon Company produced 10,000 units and sold 6,000 units at a price of $20. Costs for the last year were as follows: Direct materials $30,000 Direct labor 38,000 Variable factory overhead 8,000 Fixed factory overhead 40,000 Variable
Answers (1)
True or false? adults are categorized as those ages 25-64.
Answers (2)
Home » Business » Benson Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a: A. debit to Land and a debit to Cash. B. debit to Cash and a credit to Land. C. credit to Land and a credit to Cash. D.
Sign Up Forgot Password?