The following is a list of outstanding notes payable as of December 31, 20--: REQUIRED 1. Compute

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The following is a list of outstanding notes payable as of December 31, 20--:

REQUIRED
1. Compute the accrued interest at the end of the year.
2. Prepare the adjusting entry in the generaljournal.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 21, 2011 10:16 AM

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The following is a list of outstanding notes payable as of December 31, 20--: REQUIRED 1. Compute

Question:

Date of Note 12/1/-- 11/25/-- 12/14/-- 11/19/-- No. of Days Maker B. Jones M. Aguilar T. Plant W. Brand Interest Term Principal 90 days $1,000 2,500 3,800 1,900 11% 30 36 80 17 12 120 180 10 42

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1 B Jones 1000 x 011 30360 917 M Aguilar 2500 x 009 36360 2250 T Plant ...View the full answer

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