At the end of the period on December 31, 2022, Jack's Fishing and Tackle shop accrued interest expense in the amount of $82. On January 15, 2023, the loan payment was made and included $2,000 principal and $140 interest. What is the journal entry to record the January 15, 2023, payment if Jack's accountant used a reversing entry on January 1, 2023?

Answer rating: 100% (QA)

Heres the journal entry to record the January 15 2023 payment conside... View the full answer