Multiple Choice
On September 1,Sky Mountain Co.borrowed $200,000 on a 6%,9-month note payable to Coast National Bank.Given no previous adjusting entries have been recorded,Sky Mountain's adjusting entry four months later at December 31 would include a:
A) debit to Interest Expense of $3,000.
B) debit to Interest Expense of $4,000.
C) debit to Interest Expense of $12,000.
D) debit to Interest Expense of $9,000.
Correct Answer:
Verified
Correct Answer:
Verified
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