Midwest Enterprises made the following entry on December 31, 2012. Interest Expense 10,000 Interest Payable 10,000 (To
Question:
Interest Expense 10,000
Interest Payable 10,000
(To record interest expense due on loan from Anaheim National Bank)
What entry would Anaheim National Bank make regarding its outstanding loan to Midwest Enterprises? Explain why this must be the case.
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December 31 Interest Receivable 10000 Interest Revenu...View the full answer
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