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1. Company C established a $1 million credit line with Bank B and drew down $600,000. As a result of these events, Bank B has

1. Company C established a $1 million credit line with Bank B and drew down $600,000. As a result of these events, Bank B has a $1,000,000 asset a loan to C, and Company C has a $400,000 liability borrowing from B. True or False

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