To compute interest expense on a note for an adjusting entry, the formula is (principal × annual rate × a fraction). The numerator and denominator of the fraction are: 
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Q36: An accounting record into which the essential
Q37: Which of the following is not an
Q38: Which of the following is a recordable
Q39: A trial balance
A) proves that debits and
Q40: The debit and credit analysis of a
Q42: A general journal
A) chronologically lists transactions and
Q43: A journal entry to record a receipt
Q44: Adjustments are often prepared
A) after the balance
Q45: Which of the following properly describes a
Q46: The omission of the adjusting entry to
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