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One company's Cash T-account shows a Credit record of $1,500. Your Accounts Payable T-account shows a Debit record of $1,500. Which of the following description
One company's Cash T-account shows a Credit record of $1,500. Your Accounts Payable T-account shows a Debit record of $1,500. Which of the following description explains the posting records most appropriately? Drawing T-accounts as described on a piece of paper will help you figure it out. Unpaid amount of $1,500 for previous purchase has been paid in cash. The customer who had not paid in full for the services rendered earlier has made the payment of $1,500. Unpaid amount of $1,500 for purchase is recorded for future payment to be made in cash. The company has just received $1,500 in cash from a customer who owed the amount
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