Respuesta :

Zviko

Answer:

The Accounts affected are :

  1. Cash
  2. Note Payable

Effect of this transaction is :

  1. Increase the Assets of Cash
  2. Increase the Liabilities

Explanation:

The entry to record this transaction is :

Cash $25,000 (debit)

Note Payable $25,000 (credit)

Being recognition of Note Payable arising due to signing of a two-year promissory note.

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