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On 1/1, the UCF Bicycle Vending Machine Company took out a loan in the amount of $25,000 from Fairwinds Credit Union and signed a 6

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On 1/1, the UCF Bicycle Vending Machine Company took out a loan in the amount of $25,000 from Fairwinds Credit Union and signed a 6 month promissory note. What entry should Bicycle Vending Machine Company record on 1/1? (Select ALL that apply) Debit Short-term Notes Payable for $25,000 Debit Long-term Notes Payable for $25,000 Debit Cash for $25,000 Credit Accounts Payable for $25,000 Credit Short-term Notes Payable for $25,000 Debit Accounts Payable for $25,000 Credit Long-term Notes Payable for $25,000 Credit Cash for $25,000

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