The next item, titled Bank Loan Payable, is reported separately from Accounts Payable because the debt is
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The next item, titled “Bank Loan Payable,” is reported separately from Accounts Payable because the debt is evidenced by a promissory n __ . Which statement is true?
A. Garsden owes the bank $1,250,000.
B. Garsden will pay the bank $1,250,000.
C. Both A and B are true.
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