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11. William McKinley Music School borrowed $50,000 from the bank, signing a 9%, 6-month note (loan) on November 1, 2022. Principal and interest are
11. William McKinley Music School borrowed $50,000 from the bank, signing a 9%, 6-month note (loan) on November 1, 2022. Principal and interest are payable to the bank on May 1, 2023. If the company prepares monthly financial statements, what adjusting entry should the company make on November 30, 2022 to accrue interest expense on this note (loan)? 4 points.
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
