$5,000 was borrowed from a bank
Sept. 12 A payment of $2,000 was made for the merchandise purchased previously. Sept. 16 Goods were sold for cash totaling $4,500. Sept. 16 The cost of the goods sold was $3,000. Sept. 22 $1,800 of notes payable was paid. Sept. 28 A payment of $800 was made for rent. DATE ACCOUNT DEBIT CREDIT 2000 Sept. 1 Cash. Notes Payable 16,000 ................
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