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1. The company borrowed $100,000 on a new note payable and required semiannual interest payments. the new note is borrowed on May 1, 2017. 2.
1. The company borrowed $100,000 on a new note payable and required semiannual interest payments. the new note is borrowed on May 1, 2017.
2. At the end of 2017, the company determines that the useful life of office equipment is extended to 10 years. Original estimate: historical cost: 20,000, estimated useful life 8 years, date acquired 1/1/2014
Adjusting entries at the end of the year 2017
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