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5. Accounts in the general are organised in the order that they appear in the accounting reports. 6. A firm borrows $4000 cash from the
5. Accounts in the general are organised in the order that they appear in the accounting reports. 6. A firm borrows $4000 cash from the bank. The transaction is recorded as: Select one: a. Debit Bank Loan $4000; credit Owner's capital $4000 b. Debit Cash at bank $4000; credit Accounts Receivable $4000 c. Debit Cash at bank $4000; credit Bank Loan $4000 d. Debit Bank Loan $4000; credit Cash at bank $4000 7. which is the correct statement concerning a chart of accounts? Select one: a. The accounts are listed in alphabetical order b. Is drawn up at the commencement of a business c. Is similar for most businesses d. It is a list of accounts with their current balances 8. A credit entry is made to: Select one: a. Decrease an expense, increase income, and increase equity b. Decrease an asset, increase a liability, and decrease equity c. Increase an asset, decrease a liability, and decrease equity d. Decrease an asset, decrease a liability, and increase equity
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