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Juan purchased a truck for $10,000 for his business. He paid $5000 cash and got a loan for $5,000. How would Juan record this transaction?
Juan purchased a truck for $10,000 for his business. He paid $5000 cash and got a loan for $5,000. How would Juan record this transaction?Debit Truck $10,000$5000Credit Note Payable $5000B.Juan would not record anything because he got a great deal on the truck he bought off of Craig's List.C.Debit Note payable $5,000$5000Credit Truck $5000D.Debit Cash $10,000$5000Credit Note Payable $5000