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Describe what happened economically to cause the following JE: Dr Cash 3,000 Accounts receivable 3,000 5. (4 pts) In one sentence, describe what happened economically

Describe what happened economically to cause the following JE:

Dr Cash 3,000

Accounts receivable 3,000

image text in transcribed 5. (4 pts) In one sentence, describe what happened economically to cause the following JE: Dr. Loan Payable $16,000 Cr. Cash $16,000

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