Multiple Choice
A business repays the amount borrowed on a note payable.Which account is credited?
A) Cash
B) Equipment
C) Notes payable
D) Notes receivable
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q114: A business purchases supplies for $200
Q115: A business purchases equipment for cash in
Q116: A company received $75,000 from a customer
Q117: A business has the following transactions:
Q118: The following transactions have been journalized
Q120: A business makes a payment of $1,200
Q121: For Salary Payable,the category of account and
Q122: After initially recording a transaction,the data is
Q123: For Drawing,the category of account and its
Q124: When a business collects cash,the cash account