On November 1, 2019, Thistle Do Knicely, Inc., borrowed $12,000 on a 5-month, 6% note...
80.2K
Verified Solution
Link Copied!
Question
Accounting
On November 1, 2019, Thistle Do Knicely, Inc., borrowed $12,000 on a 5-month, 6% note payable, both interest and principal are due April 1, 2020. Which of the following is the correct December 31, 2019 adjusting entry to record interest on this note?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
