the citric acid cycle takes place in the mitochondrial matrix, and only occurs is oxygen is present. pyruvate is broken down into an acetyl group, which binds with coenzyme A to form acetyl coenzyme A. Acetyl from acetyl CoA combines with oxaloacetate to form citrate. hydrogen and electrons combine with NAD to form NADH, which goes to the electron transport chain. one ATP is formed and CO2 is released. oxaloacetate is regenerated for the continuation of the cycle.