At the end of the year the following interest computation is payable, not yet paid. Compute the amount of interest due and create the adjusting journal entry that would be shown in the general journal. $ 5,000 note payable, 60 days, 7% note (record 12 days of interest) $ 2,500 note payable, 30 days, 8% note (record 9 days of interest)

Answer rating: 100% (QA)

Journal Entry S No Account Tittle Debit Credit a Inter... View the full answer