Which of the following double entries will result in decreases in liabilities?
Please select all that apply.
A) Debit loan, credit bank (double entry to record the repayment of a loan from the bank) .
B) Debit sales, credit cash (double entry to record a refund of cash to a customer for a cancelled sale) .
C) Debit trade payables, credit bank (double entry to record cash paid to suppliers of goods and services made on credit) .
D) Debit capital account, credit bank (double entry to record the payment of cash to the owner of a business) .
Correct Answer:
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