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Josh borrowed $500 from his friend. Which of the following statements is true? Josh borrowed $500 from his friend. Which of the following statements is
Josh borrowed $500 from his friend. Which of the following statements is true?
Josh borrowed $500 from his friend. Which of the following statements is true?
a. This transaction impacts the balance sheet accounts only.
b. This transaction does not impact any accounts.
c. This transaction impacts both balance sheet and income statement accounts.
d. This transaction impacts the income statement accounts only.
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