Suppose the McDonalds Corporation imports Canadian beef,paying for it by transferring the funds to a New York bank account kept by the Canadian Beef producer.
A) Payment by McDonalds will be recorded as a debit.
B) The deposit of the funds by the seller will be recorded as a debit.
C) Payment by McDonalds will be recorded as a credit.
D) The deposit of the funds by the buyer will be credit.
Correct Answer:
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