Question
On January 30, 2017, Titan Techniques gave Master Motors a 90-day, 8%, $80,000 note payable to extend a past due account payable. Titan has a
On January 30, 2017, Titan Techniques gave Master Motors a 90-day, 8%, $80,000 note
payable to extend a past due account payable. Titan has a March 31 year end.
Instructions
Prepare the year-end adjusting entry to accrue interest and record payment of the note on April
22, 2017.
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Financial Accounting Fundamentals
Authors: John J. Wild
5th edition
1308500102, 1308500106, 78025753, 978-0078025754
