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Pattie's Event Planning Service Has Just Prepared the Unadjusted Trial

Question 149

Multiple Choice

Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances: Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances: On the first day of January, Pattie borrowed $1,800 on a one-year note payable bearing interest at 4% per year. The note specifies that principal and interest is to be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show what amount for Interest expense? A) Debit balance of $36 B) Credit balance of $36 C) Debit balance of $72 D) Debit balance of $6 On the first day of January, Pattie borrowed $1,800 on a one-year note payable bearing interest at 4% per year. The note specifies that principal and interest is to be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show what amount for Interest expense?


A) Debit balance of $36
B) Credit balance of $36
C) Debit balance of $72
D) Debit balance of $6

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