On 1 December 2012 Pritchett-Moore Management Company issued a three-month,$30 000 bills payable to Northport Savings & Loan in order to borrow $29 000.If the bills payable is still outstanding at 31 December 2012 which of the following will be reported on Pritchett-Moore's financial statements concerning the bill? $\quad$Interest Expense$\quad$ Unexpired Interest $\quad$Bills Payable
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$on Bills
a.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
b.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ No $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
c. $\quad$No $\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
d.$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes

Question

On 1 December 2012 Pritchett-Moore Management Company issued a three-month,$30 000 bills payable to Northport Savings & Loan in order to borrow $29 000.If the bills payable is still outstanding at 31 December 2012 which of the following will be reported on Pritchett-Moore's financial statements concerning the bill? $\quad$Interest Expense$\quad$ Unexpired Interest  $\quad$Bills Payable
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$on Bills
a.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
b.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ No $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
c. $\quad$No $\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
d.$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes

Quizplus · Accepted Answer

The Answer of On 1 December 2012 Pritchett-Moore Management Company issued a three-month,$30 000 bills payable to Northport Savings & Loan in order to borrow $29 000.If the bills payable is still outstanding at 31 December 2012 which of the following will be reported on Pritchett-Moore's financial statements concerning the bill? $\quad$Interest Expense$\quad$ Unexpired Interest  $\quad$Bills Payable
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$on Bills
a.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
b.$\quad$ Yes$\quad$$\quad$$\quad$$\quad$$\quad$ No $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
c. $\quad$No $\quad$$\quad$$\quad$$\quad$$\quad$ Yes $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes
d.$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$ No$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Yes

On 1 December 2012 Pritchett-Moore Management Company Issued a Three-Month,$30 \quad

On 1 December 2012 Pritchett-Moore Management Company Issued a Three-Month,$30 $\quad$