Question
Problem (5) 15 Points On October 1, a company lends $10,000 to an employee who signs a 9%, 2 years promissory note. The company is
Problem (5) 15 Points
On October 1, a company lends $10,000 to an employee who signs a 9%, 2 years promissory note. The company is preparing its year-end financial statements on December 31. No adjusting entries have been recorded in connection with this note.
Required
Write the adjusting entry that should be recorded before the financial statements are prepared.
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Wiley CIA Essentials Of Internal Auditing Part 1 Exam Review 2023
Authors: S. Rao Vallabhaneni
1st Edition
1119987148, 978-1119987147
