On Nov 1, 2022 your company borrowed $90,500 as a 180 day 5.25% Note. When preparing...
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On Nov 1, 2022 your company borrowed $90,500 as a 180 day 5.25% Note. When preparing the closing entries on December 31, 2022 you discover that the adjusting entry recorded the accrued interest expense for $971.88. The correcting entry would be:? On Nov 1, 2022 your company borrowed $90,500 as a 180 day 5.25% Note. When preparing the closing entries on December 31, 2022 you discover that the adjusting entry recorded the accrued interest expense for $971.88. The correcting entry would be:?
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The correcting entry would be to adjust the interest expense and interest payable accounts to r... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
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