a company signs a $200,000, 4% 9-month note. Interest is due at maturity. What is the...
a company signs a $200,000, 4% 9-month note. Interest is due at maturity. What is the adjusting entry required if the company prepares financial statements on June 30?
need to show the calculation process, not just the answer
Homework Answers
| Date | Account titles and explanation | Debit | Credit |
| June 30 | Interest Expense($200,000 * 0.04 * 6/12) | $4,000 | |
| Interest Payable | $4,000 |
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