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A Company Uses $100,000 in Cash to Pay Off $100,000

Question 80

Multiple Choice

A company uses $100,000 in cash to pay off $100,000 in notes payable.This would result in a:


A) $100,000 credit to Cash and a $100,000 debit to Notes Payable.
B) $100,000 credit to Cash and a $100,000 credit to Notes Payable.
C) $100,000 debit to Cash and a $100,000 credit to Notes Payable.
D) $100,000 debit to Cash and a $100,000 debit to Notes Payable.

Correct Answer:

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