Miranda Company borrowed $100.000 cash on September 1, 2014. and signed a one-year 6%, interest-bearing note payable. Assume no adjusting entries have been made during the year. Which of the following would be the required adjusting entry at the end of the December 31, 2014 accounting period?

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A. Interest expense Interest payable B. Interest expense Interest payable C. Notes payable Interest expense Cash D. Interest payable Interest expense 2,000 6,000 100,000 6,000 2,000 2,000 6,000 106,000 2,000 A. Interest expense Interest payable B. Interest expense Interest payable C. Notes payable Interest expense Cash D. Interest payable Interest expense 2,000 6,000 100,000 6,000 2,000 2,000 6,000 106,000 2,000

Answer rating: 100% (QA)

Option A Interest expense ... View the full answer