A firm repays $4000 of an existing bank loan. The transaction is recorded as which of the following entries?
A) DR Bank loan $4000; CR Owner's capital $4000
B) DR Cash at bank $4000; CR Accounts receivable $4000
C) DR Cash at bank $4000; CR Bank loan $4000
D) DR Bank loan $4000; CR Cash at bank $4000
Correct Answer:
Verified
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