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Category > Management Posted 15 Feb 2018 My Price 8.00

Milton Company


22. 3.50 points On December 1, Milton Company borrowed $310,000, at 9% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end? O debit Interest Payable, $2,325; credit Interest Expense, $2,325 O debit Interest Expense, $2.325; credit Interest Payable, $2,325. O debit Interest Expense, $2.325; credit Cash, $2.325. O debit Interest Expense, $4,650; credit Interest Payable, $4,650. O debit Interest Expense, $279oo: credit Interest Payable, $279oo.

On December 1, Milton Company borrowed $310,000, at 9% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adjusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end? debit Interest Payable, $2, 325; credit Interest Expense, $2, 325 debit Interest Expense, $2.325; credit Interest Payable, $2, 325. debit Interest Expense, $2.325; credit Cash, $2.325. debit Interest Expense, $4, 650; credit Interest Payable, $4, 650. debit Interest Expense, $27900: credit Interest Payable, $27900.

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Maurice Tutor
(5)
Status NEW Posted 15 Feb 2018 08:02 PM My Price 8.00

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