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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
النسخة 17الرقم المعياري الدولي: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
النسخة 17الرقم المعياري الدولي: 978-0078025778 تمرين 15
Accruing Unpaid Interest
Jump Corporation borrowed $60,000 on December 1, 2015, by issuing a two-month, 4 percent note payable to Service One Credit Union. The entire amount of the loan, plus interest, is due February 1, 2016.
a. Prepare the necessary adjusting entry for interest expense on December 31, 2015.
b. Record the repayment of the loan plus interest on February 1, 2016.
Jump Corporation borrowed $60,000 on December 1, 2015, by issuing a two-month, 4 percent note payable to Service One Credit Union. The entire amount of the loan, plus interest, is due February 1, 2016.
a. Prepare the necessary adjusting entry for interest expense on December 31, 2015.
b. Record the repayment of the loan plus interest on February 1, 2016.
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Adjusting entries are passed to adjust a...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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