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The journal entry a company uses to record the issuance of a note for the purpose of converting an existing account payable would be debit
The journal entry a company uses to record the issuance of a note for the purpose of converting an existing account payable would be
debit Accounts Payable; credit Notes Payable
debit Cash; credit Notes Payable
debit Cash; credit Notes Payable: Incorrect.
debit Accounts, Payable; credit Cash
debit Cash; credit Accounts Payable
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