On October 1, Swifty's Accounting Service borrows $89000 from National Bank on a $89000, 3-month, 6% note. What entry must Swifty's Accounting Service make on December 31 before financial statements are prepared?

Interest Payable 1335 Interest Expense 1335 Interest Expense 5340 Interest Payable 5340 Interest Expense 1335 Interest Payable 1335 Interest Expense 1335 Notes Payable 1335

Which of the following is not an advantage of a partnership? A partnership has fewer government regulations and restrictions than a corporation. A partnership combines skills and resources of two or more individuals. A partnership is subject to mutual agency. A partnership is easily formed.