Carmen Company used $30,000 in cash to repay a portion of its bank loan (see PE 3-11).

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Carmen Company used $30,000 in cash to repay a portion of its bank loan (see PE 3-11). For simplicity, assume that there is no interest on the loan. Make the journal entry necessary to record the transaction.

PE 3-11

Carmen Company borrowed $140,000 in cash from a bank. Make the journal entry necessary to record the transaction.

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Principles Of Financial Accounting IFRS Edition

ISBN: 9789814962605

3rd Edition

Authors: Earl K Stice, James D Stice, W Steve Albrecht, Monte R Swain, Rong-Ruey Duh, Audrey Wenhsin Hsu

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Question Posted: Apr 17, 2024 02:01 AM

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Carmen Company used $30,000 in cash to repay a portion of its bank loan (see PE 3-11).

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Principles Of Financial Accounting IFRS Edition

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