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dbanks701
16.07.2019 •
Social Studies
What is the current budget of united states? what is the share of health care in budget? what is the share of national defense/ military?
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Ответ:
Ответ:
A) debit interest expense, $1000
Explanation:
to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000
the journal entry should be:
December 31, 2018, accrued interest expense on note payable:
Dr Interest expense 1,000
Cr Accrued interest payable 1,000
Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.