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Question 1 5 A business paid $ 7 , 0 0 0 to a creditor in payment of an amount owed. The effect of the
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A business paid $ to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to
A increase one asset, decrease another asset
B decrease an asset, decrease a liability
C increase an asset, increase a liability
D increase an asset, increase owner's equity
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