Mama's Pizza Shoppe borrowed $8,800 at 6% interest on May 1, 2018, with principal and...
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Accounting
Mama's Pizza Shoppe borrowed $8,800 at 6% interest on May 1, 2018, with principal and interest due on October 31, 2019. The company's fiscal year ends June 30, 2018. What adjusting entry is necessary on June 30, 2018? Multiple Choice 176 Interest expense Interest payable 176 88 Interest expense Interest payable 88 No entry Prepaid interest 88 The primary objective of matching is to: Multiple Choice d O Provide full disclosure. Recognize expenses in the same period as the related revenue. All of the above. Provide timely information to external decision-makers
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