Question
On December 5, ABC corporation borrows $70,000 from the bank by signing a 60 day, 8% note agreement. Round values to 2 decimal places .
On December 5, ABC corporation borrows $70,000 from the bank by signing a 60 day, 8% note agreement. Round values to 2 decimal places.
Calculate the interest that should be accured on this note at December 31st and write the journal entry to record the accrual.
| Date | Description | Debit | Credit |
|---|---|---|---|
| 12/31 |
|
|
|
|
|
|
| |
| to accrue interest on note payable to bank | |||
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Quality Management Audits In Nuclear Medicine Practices IAEA Human Health Series No 33
Authors: International Atomic Energy Agency
2nd Edition
9201017154, 978-9201017154
