Question
If a company pays back money borrowed from a bank, which of the following would be included in the journal entry to record this transaction?
If a company pays back money borrowed from a bank, which of the following would be included in the journal entry to record this transaction?
| Credit Cash and debit Notes Payable | ||
| Credit Notes Payable and debit Common Stock | ||
| Debit Cash and credit Notes Payable | ||
| Debit Cash and credit Common Stock |
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Advanced Financial Accounting
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
5th Edition
0072444126, 978-0072444124
