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On July 1, 2019, Goode Company borrowed $190,000. The company signed a note payable with interest at 7 percent per year. The note and
On July 1, 2019, Goode Company borrowed $190,000. The company signed a note payable with interest at 7 percent per year. The note and interest are due on December 31, 2019. On December 31, 2019, Goode paid $196,650 to settle the debt in full. Assuming no accruals for interest have been made during the year, transaction analysis of the $196.650 cash payment on December 31, 2019 should reflect which of the following? Multiple Choice O A decrease in stockholders' equity of $190.000, a decrease in liabilities of $6.650, and a decrease in assets of $196.650. A decrease in abilities of $190,000, a decrease in stockholders' equity of $6,650, and a decrease in assets of $196,650. A decrease in assets of $190,000, a decrease in stockholders' equity of $6,650, and a decrease in liabilities of $196,650 bition of $196.650.
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