Question
CP 91 The following unadjusted accounts are taken from the records of Brown Corp. at December 31, 2019: Debit Credit Debit Credit Debit Credit Bank
CP 91 The following unadjusted accounts are taken from the records of Brown Corp. at December 31, 2019:
Debit Credit Debit Credit Debit Credit
Bank Loan 201 Interest Expense 632 Interest Payable 222
12,000 200 100
Additional Information: The bank loan bears interest at 6% per year. It was obtained on April 1, 2019. Payment in full is due on March 31, 2020. Required: Prepare the adjusting entry at December 31, 2019.
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Cost Estimating
Authors: Rodney D. Stewart
2nd Edition
0471857076, 978-0471857075
