Moon Company purchased equipment on November 1 . 2013 . by giving its supplier a 12-month, 9 percent note with a face value of $48,000 . The December 31 . 2013 . adjusting entry is
a. debit Interest Expense and credit Cash, $720.
b. debit Interest Expense and credit Interest Payable, $720.
c. debit Interest Expense and credit Interest Payable, $1,080.
d. debit Interest Expense and credit Interest Payable, $4,320.
B
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Which of the following is a defined-contribution plan intended for firms with 100 or fewer employees?
A) 401(k) plan B) SEP plan C) SIMPLE plan D) 403(b) plan
Data is
A) a collection of numbers, measures, and anything else that can be gathered and interpreted. B) the information that an organization gains when it makes use of its information technology. C) the knowledge that a company acquires after conducting research into marketplace trends. D) a capability of an organization derived from applying knowledge to a particular problem.
Top Notch Tools has average daily receipts of $3,600. These receipts are available after 1.5 days on average. What is the NPV of eliminating the float if the cost to do so is $1,500?
A) $3,260 B) $3,900 C) $2,100 D) $5,400 E) $3,150