Accounting Help?
When a company paperwork accured interest at year-end on a make a note of payable:
a) interest is accured for the total enthusiasm of the note
b) interest is accured for the number of days the note is outstanding in the subsequent period
c) interest is accured for the number of days the note is outstanding in the current period
d) none of the above
Answers:
it should be c. interest accrue is journalized for the current year the interest have be accumulate. Interest expense debit
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a) interest is accured for the total enthusiasm of the note
b) interest is accured for the number of days the note is outstanding in the subsequent period
c) interest is accured for the number of days the note is outstanding in the current period
d) none of the above
Answers:
it should be c. interest accrue is journalized for the current year the interest have be accumulate. Interest expense debit