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1) Which is the proper accounting treatment for a mortgage payment? a) Debit: Expense Debt Service Credit: Liability Mortgage b) Debit: Expense Interest; Debit: Liability

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1) Which is the proper accounting treatment for a mortgage payment? a) Debit: Expense Debt Service Credit: Liability Mortgage b) Debit: Expense Interest; Debit: Liability Mortgage Credit: Cash c) Debit: Expense Interest; Credit: Liability Mortgage Credit: Cash d) Debit: Cash Credit: Mortgage Payment Expense

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