Yes.
cash is 0;credit is 26000; debt is 500.
The boolean expression is evaluated like this:
cash >= 25000  ||  ( credit >= 25000 && debt < 1000 )
   false       ||  ( credit >= 25000 && debt < 1000 )
   false       ||  (      true       && debt < 1000 )
   
   false       ||  (      true       &&    true     )
   false       ||  (                true            )
              true
Parentheses are used to group the two relational expressions that are to be ANDed.
(Since && has higher precedence than ||, 
the parentheses are not needed,
but they don't hurt.)
The following expression is not equivalent:
( cash >= 25000 || credit >= 25000 ) && debt < 1000
When boolean expressions contain both  
&& and || correct grouping is
important.