Question
Preparing general journal adjusting entries: 1. The interest accrued at 12/31 of this year on the note payable (current) of $65,000 at 12% needs to
Preparing general journal adjusting entries:
1. The interest accrued at 12/31 of this year on the note payable (current) of $65,000 at 12% needs to be accrued. You will need to calculate only one month's interest (previous months' interest have already been recorded). Interset will be paid next year.
2. A warehous lease payment of $32,150 was made on Sept. 1 of this year for rental through Feb. 28th of next year. The amount was booked to prepaid rent on Sept 1. Adjust for the used up portion of prepaid rent for Sept to Dec of this eyar. Roudn to the nearest $1.
3. $4,120 is owed for utilities used through the edn of the eyar. The A/P balance goes to Naboo Utilities Co.
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