DOR Company borrowed $10,000 on October 1, 2018 and signed a 2 years note with a...
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DOR Company borrowed $10,000 on October 1, 2018 and signed a 2 years note with a 6% annual interest rate. The company prepares its financial statement yearly at December 31. The adjusting entry at the end of the year 2019 will include a: Debit of Interest Expense $75 O Debit of Interest Expense $150 Credit Interest Payable $600 O None of the options DOR Company borrowed $10,000 on October 1, 2018 and signed a 2 years note with a 6% annual interest rate. The company prepares its financial statement yearly at December 31. The adjusting entry at the end of the year 2019 will include a: Debit of Interest Expense $75 O Debit of Interest Expense $150 Credit Interest Payable $600 O None of the options
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None of the options Explanation The entry to record interest exp... View the full answer
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
Posted Date:
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