Question
MWP borrowed the $60,000 on October 1, 2022. MWP must make annual interest payments each September 30 and pay the full note on September 30,
MWP borrowed the $60,000 on October 1, 2022. MWP must make annual interest payments each September 30 and pay the full note on September 30, 2025. The interest rate on the note is 6%. Can you show me how to do the journal and end of year (Dec 31st) Trial balance? It uses Interest Payable and Interest Expense accounts.
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Step: 2
Step: 3
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
