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Problem 1: A $750 payment was made on the bank loan. What accounts are effected
a) debit to bank and A credit to bank loanB) A debit to accounts receivable and a credit to bankd) debit to bank loan and a credit to bank
Problem 2: Businesses performed a service and received payment of $1 500 cash, with the remaining $2 500 to be paid later. What accounts are affected?
a) debit bank credit Accounts Payable credit capitalb) debit bank, credit accounts receivable, credit capitalc) debit bank, debit accounts payable, credit capitald) debit bank, debit account receivable, credit capital
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