Chat with AI
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 18
Recording adjustments for accrued and prepaid expense items.
On December 31, 2013, the Notes Payable account at Beth's Boutique Shop had a balance of $52,000. This amount represented funds borrowed on a six-month, 9 percent note from the firm's bank on December 1. Record the journal entry for interest expense on this note that should be recorded on the firm's worksheet for the year ended December 31, 2013. Omit descriptions.
On December 31, 2013, the Notes Payable account at Beth's Boutique Shop had a balance of $52,000. This amount represented funds borrowed on a six-month, 9 percent note from the firm's bank on December 1. Record the journal entry for interest expense on this note that should be recorded on the firm's worksheet for the year ended December 31, 2013. Omit descriptions.
Explanation
Verified
Verified
The adjusting entry to record the intere...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
