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7. If a business pays $5,000 of its debt, which decrease cash by that amount, what is the offsetting entry: A. A debit to revenue
7. If a business pays $5,000 of its debt, which decrease cash by that amount, what is the offsetting entry:
A. A debit to revenue
B. A debit to Accounts Payable
C. A credit to owners capital
D. A debit to expense
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Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities
Authors: Kate Mooney
1st Edition
0071719288, 9780071719285
