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Problem 1: On 1 December, Salon Identity Ltd purchased hair-drying equipment for $65000. Paid $5000 deposit and agreed to pay the balance in 60 days. The general journal entry to record this transaction is (Ignore GST):
Select one:
A DR Hairdressing Equipment $65000; CR Cash at Bank $5000; CR Accounts Payable $60000.B DR Accounts Payable $60000; DR Cash at Bank $5000; CR Hairdressing Equipment $65000C DR Hairdressing Equipment $60000; DR Cash at Bank $5000; CR Accounts Payable $65000D DR Cash $65000; CR Accounts receivable $5000; CR Hairdressing Equipment $60000.
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