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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
R2. Based on R1, prepare the closing journal entries.
R3. Based on R1 and R2, prepare the post closing trial balance. Pay attention to the difference between this trial balance and the adjusted trial balance.
R4. Company ABC got a 10-year loan of $1000,000 from the bank on 7/1/2015. The annual interest rate is 4% and is paid every 7/1. Record the journal entries on the following dates i) without and ii) with reversing journal entries.
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