Question: Unadjusted Trial Balance (Dec 31st 2018) Long term note payable is credited $7000 Using adjusting entries for Dec 31st 2018 if The long term note

Unadjusted Trial Balance (Dec 31st 2018)

Long term note payable is credited $7000

Using adjusting entries for Dec 31st 2018 if

The long term note payable was recorded on May 1, 2018. The interest and the note are due on July 31, 2025. The interest rate is 12%. Write the adjusting journal entry

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