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Question(s) / Instruction(s):

 ABC owes Sugar Surplus $1,000 on account. When ABC pays the debt, the transaction recorded on Sugar Surplus' books will

a)            increase an asset $1,000 and decreases an asset $1,000.

b)            increase an asset $1,000 and decrease a liability $1,000.

c)            decrease a liability $1,000 and increase Stockholders' equity $1,000.

d)            decrease an asset $1,000 and decrease a liability $1,000.

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