Question: This is a 9% note due February 15, 2026 with interest collectible on the 15th of each month. Refer to the collection schedule below for
This is a 9% note due February 15, 2026 with interest collectible on the 15th of each month. Refer to the collection schedule below for the note details. Values in schedule have been rounded for convenience. additional information : colloection is 2604, principal 2176,interst is 428 and the balance for march 15th is 54824. however, we have the credit balnce of interst earned at 214$. what is the journal entry for 31 of march 2024
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