A company repays its bank borrowings. The entry to record that transaction should be Group of answer choices A debit to bank borrowings and a credit to cash A debit to cash and a credit to bank borrowings.

A company repays its bank borrowings. The entry to record that transaction should be Group of answer choices A debit to bank borrowings and a credit to cash A debit to cash and a credit to bank borrowings.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter7: Internal Control And Cash

Section: Chapter Questions

Problem 3BE

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Question

A company repays its bank borrowings. The entry to record that transaction should be

Group of answer choices

A debit to bank borrowings and a credit to cash

A debit to cash and a credit to bank borrowings.

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