Purchasing equipment for $10,000 cash is recorded as:
A) Debit Cash $10,000, credit Equipment $10,000.
B) Debit Equipment $10,000, credit Notes Payable $10,000.
C) Debit Equipment $10,000, credit Cash $10,000.
D) Debit Notes Payable $10,000, credit Equipment $10,000.
Answer: C
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