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Oriole Company signed a six-month, 12% note payable of $11200 on October 1, 2025. By recording the interest expense related to the note only
Oriole Company signed a six-month, 12% note payable of $11200 on October 1, 2025. By recording the interest expense related to the note only when it is paid on April 1, 2026, Oriole will understate expenses by December 31, 2025. on its year-end financial statements on O $12544 O $0 O $336 O $672
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul Copley
12th edition
0078025818, 978-0078025815
