On October 1, 2021 Raider Lawn Corp. borrowed $100,000 cash from Wright Patt Credit Union. Raider...
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On October 1, 2021 Raider Lawn Corp. borrowed $100,000 cash from Wright Patt Credit Union. Raider Lawn signs a 6 month, 12% note payable. Interest is payable at maturity, Raider Lawn's year end is December 31. The appropriate adjustment for Raider Lawn on December 31, 2021 is: 1) Interest Expense Interest Payable 2) Interest Expense 4) Cash Interest Payable 3) Interest Expense Cash 6,000 Interest Revenue. 3,000 3,000 3,000 6,000 3,000 3,000 3,000 On October 1, 2021 Raider Lawn Corp. borrowed $100,000 cash from Wright Patt Credit Union. Raider Lawn signs a 6 month, 12% note payable. Interest is payable at maturity, Raider Lawn's year end is December 31. The appropriate adjustment for Raider Lawn on December 31, 2021 is: 1) Interest Expense Interest Payable 2) Interest Expense 4) Cash Interest Payable 3) Interest Expense Cash 6,000 Interest Revenue. 3,000 3,000 3,000 6,000 3,000 3,000 3,000
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Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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