On June 30, 2006. Cimmaron Co. purchased ($ 8,000) of inventory: on a 1 -year, (9 %)
Question:
On June 30, 2006. Cimmaron Co. purchased \(\$ 8,000\) of inventory: on a 1 -year, \(9 \%\) note payable. Journalize the company's
(a) accrual of interest expense on December 31,2006,
(b) payment of the note plus interest on June 30, \(200^{-}\).
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