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A firm withdraws 12.000 TL from its revolving line of credit to pay taxes payable. Which one will be the accounting record for this transaction?
A firm withdraws 12.000 TL from its revolving line of credit to pay taxes payable. Which one will be the accounting record for this transaction?
Select one:
Accounts Payable 12.000 debit, Bank Loans 12.000 credit
Taxes Payable 12.000 debit, Bank Loans 12.000 credit
Banks 12.000 debit, Bank Loans 12.000 credit
Notes Payable 12.000 debit, Bank Loans 12.000 credit
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