Question: Use the information for McCormick Corporation from BE20 4 Assume that
Use the information for McCormick Corporation from BE20–4. Assume that at December 31, 2011, McCormick made an adjusting entry to accrue interest expense of $8,296 on the lease. Prepare McCormick’s May 1, 2012 journal entry to record the second lease payment of $25,561. Assume that no reversing entries are made.
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