Question
5. On 10/15/2019, a company borrowed $28,000 from a bank, for 90 days, at 6% interest. Payment of capital and interest is on due date.
5. On 10/15/2019, a company borrowed $28,000 from a bank, for 90 days, at 6% interest. Payment of capital and interest is on due date. On fiscal year end 12/31/2019, the company needed to record interest owed. Record the adjusting entry necessary.
Adjustment Journal
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Auditing And Society Research On Audit Practice And Regulations
Authors: Wally Smieliauskas, Minlei Ye, Ping Zhang
1st Edition
1138314129, 978-1138314122
