Question
The note Waldo signed when he bought the computer bears interest at 6% per year and interest is payable quarterly, i.e. every three months.The first
The note Waldo signed when he bought the computer bears interest at 6% per year and interest is payable quarterly, i.e. every three months.The first interest payment is due on February 28th, 2017.Annual interest on the note would be $96 and monthly interest would be $8.How can I record this in my adjusting entries?
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
