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13 January, 07:30

Boyd Corporation borrows $300,000 from a bank on March 1, Year 1, by signing a 6 percent, nine-month note for the amount borrowed plus accrued interest due nine months later. On issuance date, this transaction:

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  1. 13 January, 10:09
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    increases assets and increases liabilities.

    Explanation: increase assest for the borrower which is the bank, because he's paying with internet

    Increase in his liability as regards debt on his part which he has to pay.
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