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Hennigan Company
Use the five transactions below for Hennigan Rentals to answer the questions that follow.
Dec. 1
Refer to the transactions for Hennigan Rentals.
Problem 1: Based on the December 15 transaction, Farmer's Electric will record which of the following in its accounting records?
a. A debit in Accounts Receivable for $150
b. A debit in Accounts Payable for $150
c. A credit in Accounts Payable for $150
d. A credit in Accounts Receivable for $150
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