1) On October 1, a company loans $30,000 to a supplier in exchange for a one-year, 11% note. Assume the company has a December 31 year-end date. What account and amount would be recorded in the companys December 31 adjusting entry?

	Cr. Interest revenue $825
	Dr. Interest expense $3,300
	Cr. Interest revenue $3,300
	Dr. Interest expense $825

2) Which type of accounting change or error would not require an adjustment to the beginning retained earnings balance (assume a company not in its first year of operations)?

	A change in accounting principle
	An accounting error made to expenses in the prior period
	A change in accounting estimate
	All of the other answers would require an adjustment to the beginning retained earnings balance

3) On December 31, Tadpole Corp. records the depreciation on its $860,000 building that was purchased on May 1. Assume a $1,800 amount of monthly depreciation. Record the December 31 adjusting entry