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Adjusting Entries for interest At December 31, 2011. Portland Corporation had two notes payable outstanding...

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Accounting

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Adjusting Entries for interest At December 31, 2011. Portland Corporation had two notes payable outstanding notes and 2). At December 31, 2012. Portland also had two notes payable outstanding notes and 41. These notes are described below. Date of its Principal Amount interest Rate Number of Days December 31, 2011 Nume 1 November 25 2011 520000 December 14, 2011 12800 December 31, 2012 December 2012 TE200 99 No December 2013 19.000 TOM dans Required Prepare the adjusting entries for interest at December 31, 2011 b. Asume that the adjusting entries were made at December 31, 2011. and adjusting entries were made during 2012. Prepare the 2012 maltres to record payment of the notes that were outstanding at December 31, 2011 Prepare the adjusting entries for interest at December 31, 2012 Round answers to do 30 days et cition when aplicable Det pian

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