On September 1, 2017, Neighborhood, Inc. borrowed $125,000 by signing a nine-month, 7.2% note payable. Prepare the journal entry to accrue interest expense on December 31, 2016
What will be an ideal response
Interest Expense 3,000
Interest Payable [($125,000 x 7.2%) x 4/12] 3,000
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When responding to a request for adjustment when a third party is at fault, the best approach is to
A) refuse the claim and suggest that the customer sue the third party. B) refuse the claim but forward the paperwork to the third party. C) avoid placing blame and focus on the solution. D) advise the customer never to do business with that third party again. E) refuse the claim but assure the customer that you will never do business with the third party again.
Conversion costs are defined as the combined total of direct materials costs and direct labor costs incurred by a production department
Indicate whether the statement is true or false
All arbitrators and mediators must have ______ and not have any bias
Fill in the blanks with correct word
Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $4300 for 4 years. The interest rate on the note is 10% compounded semiannually. What is the cost of the machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use
appropriate factor(s) from the tables provided.) A. $27,791.76 B. $24,703.36 C. $34,400.00 D. $13,617.00 E. $15,057.30