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Analyzing and Computing Financial Statement Effects of Interest Leahy Inc. signed a 90-day, 8% note payable for $30,360 on December 16. Use the financial statement
Analyzing and Computing Financial Statement Effects of Interest Leahy Inc. signed a 90-day, 8% note payable for $30,360 on December 16. Use the financial statement effects template to illustrate the year-en accounting adjustment Leahy must make. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given trans Note: indicate a decrease in an account category by including a negative sign with the amount Note: Round your answers to the nearest whole dollar. Cash Asset Transaction Dec 31 adjustment Noncash Assets Balance Sheet Liabilities 05 2 Interest Payable Contrib. Capital + 0 e NA OX N/A 0 Earned Capic $ Retained Earnings N/A Check Partially CORTECE Maris for this submission 11.00/15.00 Type here to search i 100 memary count category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. decrease in an account category by including a negative sign with the amount ar answers to the nearest whole dollar. Balance Sheet Liabilities Contrib. Capital Revenues 0.X O Earned Capital $ (101) x Retained Earnings 0 Income Statement Expenses $ Interest Expense Net Inc 101 X-$ (1 interest Payable V N/A N/A - ubmission: 11.00/15.00 here to search o II 2 100% 8232 11/2010 " 39 * 3 5 6 7 00* 9
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