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On September 1, Sky Mountain Co. borrowed $54,000 on a 6%, 9-month note payable to...

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Accounting

On September 1, Sky Mountain Co. borrowed $54,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a:

Multiple Choice

  • debit to Interest Expense of $3,240.

  • debit to Interest Expense of $1,080.

  • debit to Interest Expense of $2,430.

  • debit to Interest Expense of $810.

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