Veronica Lodge borrowed $15,000 from a bank on January 1,2013 to finance her new business.She agrees to repay the bank on December 31,2013,with $750 interest on the loan.In addition to increasing cash,what else should Veronica record on January 1,2013?
A) an increase in a liability of $15,000
B) an increase in a liability of $15,750
C) an increase in equity of $15,000
D) an increase in a liability of $15,750,and a decrease in equity of $750
Correct Answer:
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