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T-Accounts
Borrows $100,700 from the bank.
$100,700
DEBITINCREASED AN ASSETRECEIVED $
House (ASSET)
•CREDIT•DECREASES AN ASSET•PAID $
NOTES PAYABLE (LIABILITY)
•DEBIT•DECREASES A LIABILITY REPAID LOAN
•CREDIT•INCREASES A LIABILITY •BORROWED $
DEBIT
MORTGAGE
•CREDIT•$94,000