On September 30,

2020,

its fiscal year end,

TJ

Services recorded an adjusting entry for

$3,200

of interest it owes at year end and will include as part of its payment on October 31,

2020.

On October 31,

2020,

the company paid interest in the amount of

$3,600.

Assuming

TJ

Services uses reversing entries, prepare the journal entries for these interest transactions.

1.First, record the adjusting entry to accrue the interest expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Journal Entry
Date		Accounts	Debit	Credit

2. Next, record the reversing entry.

Journal Entry
Date		Accounts	Debit	Credit

3. Finally, record the interest payment.

Journal Entry
Date		Accounts	Debit	Credit