Question
What would be the interest expense/interest payable adjusting entry for this: 6% interest note payable was made on January 31, 2017, and is due February
What would be the interest expense/interest payable adjusting entry for this:
6% interest note payable was made on January 31, 2017, and is due February 1, 2019.
5-year loan was made on June 1, 2017. Terms are 7.5% annual rate, interest only until due date
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
