A Business Borrowed $200 000 from GT Finance

question 5

Multiple Choice

A business borrowed $200 000 from GT Finance.The debit and credit entries for this transaction are:

• A) debit cash $200 000; credit loan from GT Finance $200 000.
• B) debit loan from GT Finance $200 000; credit cash $200 000.
• C) debit accounts payable $200 000; credit loan from GT Finance $200 000.
• D) debit loan from GT Finance $200 000; credit accounts payable $200 000.

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Definitions:

Genetic Ancestry

The lineage or heritage of organisms as determined by their genetic makeup, often explored in humans through DNA analysis.

Mitochondrial DNA

Genetic material found in mitochondria, the energy-producing organelles of cells, inherited exclusively from the mother and used in tracing maternal lineage and evolutionary genetics.

Human Relatedness

The ways in which individuals are connected to one another through biological kinship, social bonds, or cultural practices.

General Agreement

A broad consensus or widespread acceptance among members involved in a particular issue or arrangement.