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Carl cornfield purchases equipment. After reducing the cash line, where else would carl put an entry for his purchase?
1. Cash assets
2. Equipment assets
3. Other assets
4. Liabilities acct payable
5. Owners equity

Answer :

lucic

The entry should be put in the Equipment assets.

Step-by-step explanation:

Assets are those resources used in the business to help in generation of revenue and profits. When an equipment is purchased it should appear on the balance sheet as a debited asset account. This will increase the asset account.Same amount is credited in the cash account.

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  • Entry for Equipment  purchase : https://brainly.com/question/1417746

Keywords: cash line, equipment , purchase

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