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Question 4 of 4 - / 10 iji View Policies Current Attempt in Progress The following information relates to the Carla Vista Company at the
Question 4 of 4 - / 10 iji View Policies Current Attempt in Progress The following information relates to the Carla Vista Company at the end of 2020. The accounting period is the calendar year. 1. 2. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $5,500 per week. The accounting period ends on a Tuesday. A note for $5,700 was received from a customer in a sales transaction on April 1, 2020. The note matures in one year and bears 8% interest. On September 1, 2020, Carla Vista borrowed $11,000 cash by signing a note payable due in one year at 3% interest. 3. Using the information given above, prepare the necessary adjusting entrids at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1. 2. 3
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