Question
Mama's Pizza Shoppe borrowed $6,200 at 9% interest on May 1, 2018, with principal and interest due on October 31, 2019. The company's fiscal year
Mama's Pizza Shoppe borrowed $6,200 at 9% interest on May 1, 2018, with principal and interest due on October 31, 2019. The company's fiscal year ends June 30, 2018. What adjusting entry is necessary on June 30, 2018?
Multiple Choice
-
Interest expense 93 Interest payable 93 -
Prepaid interest 93 Interest payable 93 -
Interest expense 186 Interest payable 186 -
No entry.
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Pocket CIO The Guide To Successful IT Asset Management Get To Grips With The Fundamentals Of IT Asset Management Software Asset Management And Software License Compliance Audits With This Guide
Authors: Phara Estime McLachlan
1st Edition
1783001003, 978-1783001002
