Question
On November 1, 2023, Alan Company signed a 120-day, 10% note payable, with a face value of $63,000. Alan made a December 31 year-end accrual
On November 1, 2023, Alan Company signed a 120-day, 10% note payable, with a face value of $63,000. Alan made a December 31 year-end accrual for interest earned. (Use 360 days a year.)
2a. Write the November 1st journal entry. How did the entry impact the 2023 financial statements (Hint: increase versus decrease)
2b. Write the December 31st journal entry. How did the entry impact the 2023 financial statements (Hint: increase versus decrease)
2b. Write the final journal entry in 2024 on the correct date. How did the entry impact the 2024 financial statements (Hint: increase versus decrease)
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Getting Clinical Audit Right To Benefit Patients
Authors: Healthcare Quality
1st Edition
1873543069, 978-1873543061
