Question: On June 1 , 2 0 2 4 UW - Madison borrows $ 1 million from its bank and signs a document to pay back

On June 1,2024 UW-Madison borrows $1 million from its bank
and signs a document to pay back the loan 24 months later with
an 8% interest rate. Which account for UW-Madison will
increase on June 1 due to this transaction?
Multiple Choice
Loan revenue
Unearned Revenue
On June 1,2024 UW-Madison borrows $1 million from its bank and

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