Question
Rattata Ltd entered into a loan of $10,000 on 1 February 2021and was being charged interest at 6% simple per annum. Prepare any required general
Rattata Ltd entered into a loan of $10,000 on 1 February 2021and was being charged interest at 6% simple per annum.
Prepare any required general journal adjusting entry for the financial year assuming no payment of interest has been made.
[3 marks]
Date | Account Name | Debit ($) | Credit ($) |
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
