a-company-has-a-balance-of-10000-in-its-equipment-account-and-4000-in-its-notes-

Question

A company has a balance of $10,000 in its Equipment account and $4,000 in its Notes Payable account. What are the expected balances for these accounts?

Accepted Answer

Equipment: Debit, Notes Payable: Credit

Answer

Equipment: Credit, Notes Payable: Debit

Answer

Equipment: Credit, Notes Payable: Credit

Answer

Equipment: Debit, Notes Payable: Debit

A company has a balance of \$10,000 in its Equipment account and \$4,000 in its Notes Payable account. What are the expected balances for these accounts?