Answered

Select the correct answer.

Krugman Tractors and Heavy Machinery borrowed money from Atlantis Bank. The loan is repayable in ten years with an interest rate of 2.5 percent.

What is Atlantis Bank's type of account in Krugman's books of accounts?

A. Proprietor
B. Investor
C. Debtor
D. Creditor



Answer :

GinnyAnswer

Final answer:

The correct type of account in Krugman's books of accounts for Atlantis Bank is creditor.


Explanation:

Creditor is the correct answer. In Krugman's books of accounts, Atlantis Bank would be categorized as a creditor because the bank has lent money to Krugman Tractors and Heavy Machinery, making Atlantis Bank a party to whom the money is owed.


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