Question
A1 Ski Shop signs a three-month note payable to help finance increases in inventory for the winter ski season. The note is signed on October
A1 Ski Shop signs a three-month note payable to help finance increases in inventory for the winter ski season. The note is signed on October 1, 2025 in the amount of $30000 with annual interest of 6%. What is the adjusting entry to be made on December 31, 2025 for the interest expense accrued to that date, assuming that no entries have been made previously to accrue interest?
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Mathematical Applications For The Management, Life And Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
12th Edition
978-1337625340
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