On November 1,2014,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.Please provide the journal entry to accrue interest expense for the period of November 1 through the end of the year.
$$\begin{array} { | l | l | l | }
\hline \quad\quad& \quad&\quad \
\hline & & \
\hline
\end{array}$$

Question

On November 1,2014,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.Please provide the journal entry to accrue interest expense for the period of November 1 through the end of the year.
 $$\begin{array} { | l | l | l | } 
\hline \quad\quad& \quad&\quad \
\hline & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of On November 1,2014,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.Please provide the journal entry to accrue interest expense for the period of November 1 through the end of the year.
 $$\begin{array} { | l | l | l | } 
\hline \quad\quad& \quad&\quad \
\hline & & \
\hline
\end{array}$$

On November 1,2014,EZ Products Borrowed $48,000 on a 5%,10-Year Note \begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline\end{array}​​​​

On November 1,2014,EZ Products Borrowed $48,000 on a 5%,10-Year Note $\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline\end{array}$