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Ivanhoe Limited berrowed $78,000 from National Limited on July 1 and issued a three-month note payable at 6 due at maturity on October 1. Ivanhoe's
Ivanhoe Limited berrowed $78,000 from National Limited on July 1 and issued a three-month note payable at 6 due at maturity on October 1. Ivanhoe's year end is August 31 and the company records adsustine entries only at that time. Prepare the fournal entry to record the accrual of inferest expense on August 31. ICredit account tities are autamutically indented when the amount is entered, Do not indent manualfy, If no entry is required, select "Wo Entry" for the acciount titles and enter ofor the amounts. List debit entry before credit entry
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