Question
Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping for this transaction? Debit cash;
Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping for this transaction?
Debit cash; credit long-term debt
Debit long-term debt; credit owners' equity
Debit owners' equity; credit long-term debt
Debit long-term debt; credit cash
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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes
5th Edition
0470251395, 978-0470251393
