Question
Crimson Tide borrows $18,500 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at
Crimson Tide borrows $18,500 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 12%.
I need to record the adjustment for interest in a journal entry. How do I do the math to find this?
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
