Miranda Company borrowed $100,000 cash on September 1, 2019, and signed a one-year 6%, interest-bearing note payable. Assume no other entries have been made on the interest during the year. Which of the following would be the required adjusting entry at the end of the December 31, 2019 accounting period?

Miranda Company borrowed $100,000 cash on September 1, 2019, and signed a one-year 6%, interest-bearing note payable. Assume no other entries have been made on the interest during the year. Which of the following would be the required adjusting entry at the end of the December 31, 2019 accounting period?

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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