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M&R Company provided $2,400 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January
M&R Company provided $2,400 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the companys year-end. Wage expenses of $1,400 have been incurred but are not paid as of December 31. M&R Company has a $5,400 bank loan and has incurred (but not recorded) 6% interest expense of $324 for the year ended December 31. The company will pay the $324 interest in cash on January 2 following the companys year-end. M&R Company hired a firm that provided lawn services during December for $540. M&R will pay for December lawn services on January 15 following the companys year-end. M&R Company has earned $240 in interest revenue from
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