Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Subject:ACCT335 Please solve faster i just want the correct option with out detailed answer please solve faster thanks Linda Amanadel On October 1, 2015. Jacob's
Subject:ACCT335 Please solve faster i just want the correct option with out detailed answer please solve faster thanks Linda Amanadel
On October 1, 2015. Jacob's Beach Umbrellas borrowed $5,000 on a 12%, one-year note payable. Interest was payable semiannually. A correct adjusting entry was made on December 31, 2015, and a correct reversing entry was made on January 1, 2016. The entry that should be made on March 31 2016, is Select one: O a. DR: Interest Expense $150; CR: Cash $150 O b. DR: Interest Payable $300; CR: Cash $300 OC. DR: Interest Expense $150: DR: Interest Payable $150: CR: Cash $ 300 d. DR: Interest Expense $300; OR Cash $ 300Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started