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The Last Bank Lends Money to a Customer on a Six

Question 159

Multiple Choice

The Last Bank lends money to a customer on a six month note. The entry to record the receipt of the note by the customer is:


A) debit Note Receivable and credit Service Revenue.
B) debit Cash and credit Note Payable.
C) debit Note Receivable and credit Cash.
D) debit Cash and credit Note Receivable.

Correct Answer:

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