Question
On December 31, 20X1, the Notes Payable account at Vanessas Boutique Shop had a balance of $66,400. This amount represented funds borrowed on a six-month,
On December 31, 20X1, the Notes Payable account at Vanessas Boutique Shop had a balance of $66,400. This amount represented funds borrowed on a six-month, 9 percent note from the firms bank on December 1. Record the journal entry for interest expense on this note that should be recorded on the firms worksheet for the year ended December 31, 20X1.
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Financial And Accounting Principles In Islamic Finance
Authors: Samir Alamad
1st Edition
3030162982, 9783030162986
