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Create a journal entry and a T-Account for each of the following transactions : a....

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Accounting

Create a journal entry and a T-Account for each of the following transactions :

a. $5,000 of accounts payable is paid in cash.

b. $30,000 of cash is received from taking out a note with the local bank.

c. $10,000 of accounts receivable from last year is received in cash.

d. $7,000 is paid back on the borrowed note.

e. $15,000 worth of equipment is purchased on credit.

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