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How much will you debit the cash account

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Reference no: EM133078283

Question - A company purchases furniture for 75000. They pay 50000 in cash and the rest they will pay the following month.

Required -

1. How much will you debit the cash account?

2. How much will you credit the Accounts payable account?

3. How much did your asset account increase by?

4. How much did you liability account increase by?

5. How much did Owners equity increase by?

Reference no: EM133078283

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