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18. Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping for this transaction? Debit

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18. Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping for this transaction? Debit cash; credit long-term debt Debit long-term debt; credit owners' equity Debit owners' equity, credit long-term debt Debit long-term debt; credit cash

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