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made a year end adjusting entry to accrue interest on a note payable that has the interest rate
stated separately from the principal amount
made a year end adjusting entry to accrue interest on a note payable that has the interest rate
stated separately from the principal amount
Solution
Answer:
Year end adjusting entry for Accrued interest:
Interest Expense Debit
Interest payable Credit
(Being interest on notes accrued)

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made a year end adjusting entry to accrue interest on a note payable t.docx

  • 1. made a year end adjusting entry to accrue interest on a note payable that has the interest rate stated separately from the principal amount made a year end adjusting entry to accrue interest on a note payable that has the interest rate stated separately from the principal amount Solution Answer: Year end adjusting entry for Accrued interest: Interest Expense Debit Interest payable Credit (Being interest on notes accrued)