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29. Gardner Company purchaseda truck from Kulner Ca by issuing a 6- month, 8% note payable for P60.000 on November 1. On December 31, the accrued expense adjusting entryhas No entry is required. O interest Expense of P4,800 bepreciation Expense of e4,800- Interestfayoble.of P800 Note Payable of P60,000

29. Gardner Company purchaseda truck from Kulner Ca by issuing a 6- month, 8% note payable for P60.000 on November 1. On December 31, the accrued expense adjusting entryhas No entry is required. O interest Expense of P4,800 bepreciation Expense of e4,800- Interestfayoble.of P800 Note Payable of P60,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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HD WERCAM A Financal stalements aX o0 Preparing workshee X facebook- Bing ination in P X m/forms/d/e/1FAlpQIScwid FUrgFj4POBEULVF-03aXbIMon65bJinpul-TRBAOXBO/viewform?hr_sub 29. Gardner.Company purchased a truck from Kutner Co by issuing a 6- month, 8% note payable for P60,000 on November 1. On December 31, the accrued expense adjusting entryhas O- No entry-is required. O Interest Expense of P4800 O-Depreciation Expense of P4,800- O Interestfayable of P800 O Note Payable of P60,00 30.The revenge recognition principle dictales that revenue be Inthe accounting period reco Obefoietic eamed O afferit s eaned, inhicitisearred. O Innichis collecied
Transcribed Image Text:HD WERCAM A Financal stalements aX o0 Preparing workshee X facebook- Bing ination in P X m/forms/d/e/1FAlpQIScwid FUrgFj4POBEULVF-03aXbIMon65bJinpul-TRBAOXBO/viewform?hr_sub 29. Gardner.Company purchased a truck from Kutner Co by issuing a 6- month, 8% note payable for P60,000 on November 1. On December 31, the accrued expense adjusting entryhas O- No entry-is required. O Interest Expense of P4800 O-Depreciation Expense of P4,800- O Interestfayable of P800 O Note Payable of P60,00 30.The revenge recognition principle dictales that revenue be Inthe accounting period reco Obefoietic eamed O afferit s eaned, inhicitisearred. O Innichis collecied
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