Issuing a note payable is a(n)
A)claims exchange transaction.
B)asset source transaction.
C)asset use transaction.
D)asset exchange transaction.

Name: Issuing a note payable is a(n) A)claims exchange transaction. B)asset source transaction. C)asset use transaction. D)asset exchange transaction.
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Question

Quizplus · Accepted Answer

Issuing a note payable is an asset source transaction because it increases assets (cash) and increases liabilities (notes payable).

Issuing a Note Payable Is A(n)