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snow_tiger [21]
3 years ago
9

Define debt economics.​

Business
1 answer:
max2010maxim [7]3 years ago
4 0

Answer:

Debt, Something owed. Anyone having borrowed money or goods from another owes a debt and is under obligation to return the goods or repay the money, usually with interest. For governments, the need to borrow in order to finance a deficit budget has led to the development of various forms of national debt

Explanation:

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A landlord will usually check your credit report before renting an apartment to you.
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C

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Jax Recording Studio purchased $7,800 in electronic components from Music World. Jax signed a 60-day, 8% promissory note for $7,
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Answer:  Debit Notes Receivable          7,800  

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Explanation:

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here,  sales = $7,800 = Debit Notes Receivable  

The entry to record the sales transaction would be

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