Question: Pioneer signed a three-month, 12%, note payable in the amount of $50,000 on October 1. Prepare the adjusting entry on Oct. 31 to record the

Pioneer signed a three-month, 12%, note payable in the amount of

Pioneer signed a three-month, 12%, note payable in the amount of $50,000 on October 1. Prepare the adjusting entry on Oct. 31 to record the accrual of interest. Suppose Pioneer makes quarterly financial statements, and October 31 falls on a fiscal quarter-end. What journal entry does Pioneer make on December 31? Pioneer Advertising pays its employees every Friday for total salaries and wages of $10,000 for the five-day work week, or $2,000 per day. October 31, 2017 falls on a Tuesday. Prepare the adjusting entry on Oct. 31 to record accrual for salaries

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