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QUESTION 1 Mason Service Company has the following accounts and account balances in its ledger for which adjusting journal entries are needed for the month

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QUESTION 1 Mason Service Company has the following accounts and account balances in its ledger for which adjusting journal entries are needed for the month of September 2020: Accounts Receivable $ 27,000 Equipment 96,000 Notes Payable 60,000 Office Supplies 18,000 Prepaid Rent 40,000 Salaries Expense 75,000 Unearned Revenue 88,000 Using the above information, prepare the adjusting journal entry for: The Notes Payable is for 10 years and carries an interest rate of 10%

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