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The company determines that the interest expense on a note payable for the period ending December...

Question:

The company determines that the interest expense on a note payable for the period ending December 31 is $410. This amount is
The company determines that the interest expense on a note payable for the period ending December 31 is $410. This amount is payable on January 1. Prepare the journal entries required on December 31 and January 1. If an amount box does not require an entry, leave it blank. Dec. 31 Jan. 1 Cash Interest Expense Interest Payable Interest Receivable Interest Revenue

Answers

Amount in & Dec 31 intrest expense ale intrest payable ale 410 intrest payable 948 410 Jan-1 410 cash alc

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