True/False
Elsdon Inc.borrowed $21,000 on a one-year Note Payable with an interest rate of 10% per year on June 1.It will repay the principal and interest at the end of the one-year period.The company makes accrual adjustments at the end of each month.The company should record interest expense of $2,100 on June 30.
Correct Answer:
Verified
Correct Answer:
Verified
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