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Herman's 12/31/2022 trial balance shows Note Payable of $10,000. Money was borrowed on 1/1/2021, and it was a 5 year note, with interest payable
Herman's 12/31/2022 trial balance shows Note Payable of $10,000. Money was borrowed on 1/1/2021, and it was a 5 year note, with interest payable on July 1 of each year. The rate of interest was 6%. What adjusting entry will Herman make?
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Heres the adjusting entry Herman needs to make on December 31 2022 to account for the accrued intere...
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
