Question
A credit union loaned $5,000.00 to a customer on November 1, 2020. It is a five-month loan charging an annual interest rate of 13.00%
A credit union loaned $5,000.00 to a customer on November 1, 2020. It is a five-month loan charging an annual interest rate of 13.00% What will be the general journal adjusting entry on December 31, 2020 for the customer?
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
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