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On September 1, 2019, a firm accepted a 6-month, 6% note for $30,000 from a customer with an overdue account balance. The accrued interest recorded
On September 1, 2019, a firm accepted a 6-month, 6% note for $30,000 from a customer with an overdue account balance. The accrued interest recorded for this note on December 31, 2019, is Multpe Choice $1,800.00 No accrual is necessary $150.00 560000 The Supplies account has a trial balance of $3,336. A year-end inventory shows $1,774 worth of supplies left at the end of the year. The correct adjusting entry is: Multiple Choice debit Supplies Expense $3,336; credit Supplies $3,336 debit Supplies Expense $1,562; credit Supplies $1,562 debit Supplies Expense $1,774, credit Prepaid Supplies $1,774 debit Supplies $1,562, credit Supplies Expense $1,562
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