Question
Two Company borrowed $100,000 from A Bank on February 1, 2018. The note required principal and interest at 12% to be paid on January 31,
Two Company borrowed $100,000 from A Bank on February 1, 2018. The note required principal and interest at 12% to be paid on January 31, 2019. The adjusting entry on December 31, 2018 would include
| A credit to cash for $11,000 |
| No entry |
| A debit to interest expense for $11,000 |
| A credit to interest payable for $12,000 |
Two Company borrowed $100,000 from A Bank on February 1, 2018. The note required principal and interest at 12% to be paid on January 31, 2019. The adjusting entry on December 31, 2018 would include A credit to cash for $11,000 No entry A debit to interest expense for $11,000 A credit to interest payable for $12,000
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Process Audits And 6 Sigma Excellence To Mitigate Risk And Improve Business Performance
Authors: Mr Indulis Laimonis Svikis
1st Edition
B09M5FPYR4, 979-8769768996
