Question
On September 1, 2014, a company issued a $50,000, 6-month, 9% note payable to purchase a piece of equipment. The company pays the note with
On September 1, 2014, a company issued a $50,000, 6-month, 9% note payable to purchase a piece of equipment. The company pays the note with interest at the maturity date.
What is the adjusting journal entry at December 31 to record the accrued interest on the note payable?
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The Internal Auditor At Work A Practical Guide To Everyday Challenges
Authors: K. H. Spencer Pickett
1st Edition
0471458392, 978-0471458395
