ACC221
Miami University Of Ohio
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ACC221 - Miami University - Exam One questions with correct answers
- Exam (elaborations) • 5 pages • 2023
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Recording the Borrowing of Money from the Bank Answer Debit Cash with Amount Borrowed 
Credit Note Payable with Amount Borrowed 
 
Recording the sale of common stock Answer Debit Cash with amount issued 
Credit Common Stock with amount issued 
 
Record the purchase of equipment Answer Credit Cash with amount paid 
Debit equipment with amount purchased 
 
Record the purchase of supplies on credit Answer Debit supplies with amount purchased 
Credit Accounts Payable with amount purchased 
 
Recor...
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