A Business Repays the Amount Borrowed on a Note Payable

question 128

Multiple Choice

A business repays the amount borrowed on a note payable.Which account is debited?

• A) Cash
• B) Equipment
• C) Notes payable
• D) Notes receivable

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Definitions:

Palm Oil

A type of vegetable oil derived from the fruit of the oil palm tree, often used in food products, cosmetics, and biofuels.

Coconut Oil

An edible oil extracted from the kernel or meat of mature coconuts, touted for its health benefits and used in cooking, skin care, and hair care.

Nutritional Status

The condition of an individual's health as influenced by the intake and utilization of nutrients.

Prealbumin

A protein found in the blood that is used as a marker for nutritional status and to evaluate the effectiveness of nutrition interventions.