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Auto Loan Payable has a credit balance of $32,883.62. Payment $869.98; due the 3rd of each month; 6% APR It has been almost a month
Auto Loan Payable has a credit balance of $32,883.62.
Payment $869.98; due the 3rd of each month; 6% APR
It has been almost a month since interest was accrued on the auto loan. (Three days is immaterial. Use a whole month.)
What is the adjusting entry that need to be made for the interest?
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
5th Edition
0273651560, 978-0273651567
