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majestico majestico
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7 years ago
Tricia's Decor purchased merchandise from House Beautiful and issued a promissory note. Tricia should record the transaction as:
A) debit Purchases and credit Accounts Payable for the maturity value of the note.
B) debit Purchases and credit Notes Payable for the principal amount of the note.
C) debit Purchases and credit Notes Payable for the maturity value of the note.
D) debit Purchases and credit Accounts Payable for the face amount of the note.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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keytwokeytwo
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