A $760,000 note payable requires $5,700 of interest to be paid at the end of each 30 days the interest was last paid on April 20 and the next payment is due on may 20. As of April 30, $1900 of interest expense has accrued.

please adjust a journal entry to prepare financial statements as of April 30. please present both the April 30 adjusting entry and the subsequent entry during may to record the payment of the accrued expenses

May Legal Fees Payable V 4500 V Cash 4500 A $760,000 note payable requires $5,700 of interest to be paid at the end of each 30 days. The interest was last paid on April 20 and the next payment is due on May 20. As of April 30, $1,900 of interest expense has accrued. Date General Journal Debit Credit Apr. 30 Miscellaneous Expense Supplies Expense May 20 Notes Payable 5700 Interest Expense Cash 5700 c. Total weekly salaries expense for all employees is $12,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on Tuesday of this