01:25:27 de Timer Question 4 View Policies Current Attempt in Progress Compton Inc. made a $500 ordinary repair to a piece of equipment. Compton's accountant debited this amount to the asset account, Equipment, and credited Cash Was this the correct entry and if not, why not? No, the correct entry would be a debit to Cash and a credit to Maintenance and Repairs Expense. No, the correct entry would be a debit to Maintenance and Repairs Expense and a credit to Cash No, the correct entry would be a debit to Service Revenue and a credit to Cash Yes, this was the correct entry. Save for Later Attempts: 0 of 1 used Sunt Andwer View Policies Current Attempt In Progress Marin Inc. recorded a loss of $6900 when it sold a van that originally cost $79000 for $12300. Accumulated depreciation on the van must have been O $19200 $72100 $73600. $59800. Save for Later