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| Teaching Since: | Apr 2017 |
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| Questions Answered: | 12843 |
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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.
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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.
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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.Â
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