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Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances: Salary expense: Debit $8,000 Service revenues: Credit $3,000 Interest
Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances:
Salary expense: Debit $8,000
Service revenues: Credit $3,000
Interest expense: 0
On the first day of January, Pattie borrowed $1,800 on a one-year note payable bearing interest at 4% per year. The note specifies that principal and interest is to be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show what amount for Interest expense?
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