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Far Away Inc. borrowed $ 1 3 0 , 0 0 0 on October 1 by signing a note payable to Community Bank. The interest
Far Away Inc. borrowed $ on October by signing a note payable to Community Bank. The interest expense for each month is $ The loan agreement requires Far Away Inc. to pay interest on December Make Far Away Inc.s adjusting entry to accrue interest expense and interest payable at October at November and at December Date each entry and include its explanation. Post all three entries to the Interest Payable account. Record the payment of three months' interest at December Requirement Make Far Away Inc.s adjusting entry to accrue interest expense and interest payable at October at November and at December Date each entry and include its explanation. Record debits first, then credits. Enter explanations on the last line. Make the adjusting entry to accrue monthly interest expense for October. tableJournal EntryDateAccounts and Explanation,Debit,CreditOct
Far Away Inc. borrowed $ on October by signing a note payable to Community Bank. The interest expense for each month is $ The loan agreement requires Far Away Inc. to pay interest on December
Make Far Away Inc.s adjusting entry to accrue interest expense and interest payable at October at November and at December Date each entry and include its explanation.
Post all three entries to the Interest Payable account.
Record the payment of three months' interest at December
Requirement Make Far Away Inc.s adjusting entry to accrue interest expense and interest payable at October at November and at December Date each entry and include its explanation. Record debits first, then credits. Enter explanations on the last line.
Make the adjusting entry to accrue monthly interest expense for October.
tableJournal EntryDateAccounts and Explanation,Debit,CreditOct
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