Question

journal entry paid cash 360000$ to purchase a building

Answer 1

Building and cash are both assets. Debits increase both and credits decrease both on the "T" Accounts.

Building increases and Cash decreases.

Answer 2

I believe it looks like this

(A) Cash 360,000
(A) Building 360,000

Answer 3

A journal entry would like:

Building 360,000
Cash 360,000

In other words, you would debit Building and credit Cash. The journal entry would also require putting in the year, month and day.

Answer 4

yeah, i spose cash would decrease and building increase :)