Acme enterprises borrowed $20,000 from last bank on a 5-year note payable. acme's journal entry to record this transaction will include a?

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AshleyRojas4558 AshleyRojas4558

12-09-2022
Business

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Acme enterprises borrowed $20,000 from last bank on a 5-year note payable. acme's journal entry to record this transaction will include a?

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Tutorconsortium363 Tutorconsortium363 · Answer 1 · 2022-09-14T15:02:28-04:00

Acme Enterprises borrowed $20,000 from Bank on a 5-year note payable. Acme's journal entry to document this trade will contain a debit to cash for $20,000 and a credit to notes expected for $20,000.

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