a-company-acquires-a-building-for-200000-paying-50000-in-cash-and-signing-a-note

Question

A company acquires a building for $$200,000, paying 50$$,000 in cash and signing a note payable for the remainder. What is the correct journal entry?

Accepted Answer

Debit Building $$200,000; Credit Cash 50$$,000; Credit Notes Payable $150,000

Answer

Debit Building $$150,000; Credit Cash 50$$,000; Credit Notes Payable $100,000

Answer

Debit Building $$50,000; Credit Cash 50$$,000; Credit Notes Payable $150,000

Answer

Debit Building $$200,000; Credit Cash 200$$,000

A company acquires a building for \$200,000, paying \$50,000 in cash and signing a note payable for the remainder. What is the correct journal entry?