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Business, 18.08.2020 17:01 serehnatyras0808

Juan Foods pays off a long-term debt in full. Which one of the following statements best describes the appropriate book-keeping for this transaction? a. Debit cash; credit long-term debt
b. Debit long-term debt; credit owners' equity
c. Debit owners' equity; credit long-term debt
d. Debit long-term debt; credit cash

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Juan Foods pays off a long-term debt in full. Which one of the following statements best describes t...
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