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Posted on May 13, 2024

On November 1 , 2 0 2 1 , Uptown Bookstore borrowed $ 2 0 9 , 0 0 0 , by signing a 6

On November

1, 2021,

Uptown Bookstore borrowed $

209, 000,

by signing a

6 %,

six

-

month note payable. The amount borrowed plus accrued interest is due six months later on May

1, 2022 .

What adjusting entry should the company record for accrued interest on December

31, 2021 ? (

Do not round your intermediate calculations.

)

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