Question: At December 31 the unadjusted trial balance of H R
At December 31, the unadjusted trial balance of H& R Tacks reports Interest Payable of $ 0 and Interest Expense of $ 0. Interest incurred and owed in December totals $ 500. Prepare the adjusting journal entry on December 31. In separate T- accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.
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