Multiple Choice
Glaus Corp.signed a three-month, zero-interest-bearing $152,205 note on November 1, 2010 for the purchase of $150,000 of inventory.The adjusting entry made at December 31, 2010 will include a
A) debit to Note Payable for $735.
B) debit to Interest Expense for $1,470.
C) credit to Note Payable for $735.
D) credit to Interest Expense for $1,470.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following are not factors
Q3: On January 1, 2010, Beyer Co.leased a
Q4: A contingent liability<br>A)definitely exists as a liability
Q4: Examples of contingent assets include all of
Q5: On December 31, 2011, Frye Co.has £4,000,000
Q7: Use the following information for questions.<br>Vargas Company
Q8: During 2010, Eaton Co.introduced a new product
Q9: Liabilities are<br>A)any accounts having credit balances after
Q10: On January 3, 2010, Boyer Corp.owned a
Q68: Which of the following is the proper