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Master equipment has a 17400 liability to arrow paint company. When master equipment makes a partial payment of 7600 on this liability which of the
Master equipment has a 17400 liability to arrow paint company. When master equipment makes a partial payment of 7600 on this liability which of the following occurs
Retained earnings are debited 9,800
The accounts payable account is credited 9800
The cash account is debited 7600
The accounts payable account is debited 7600
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