On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9- month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a: /
On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9- month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a: /
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9-
month note payable to Coast National Bank. Given no previous adjusting
entries have been recorded, Sky Mountain's adjusting entry four months
later at December 31 would include a: /
El 1 de septiembre Sky Mountain pidió un préstamo por $200,000 al
Coast National Bank firmando un document por pagar a 9 meses con una
tasa de interés del 6%. Si no se han realizado previamente asientos de
ajuste, el asiento de ajuste por los 4 meses posteriores, que se realizará el
31 de diciembre para Sky Mountain incluye:
Debit to Interest Expense of $12,000 / Gastos de débito a intereses de
$12,000
Debit to Interest Expense of $4,000 / Gastos de débito a intereses de $4,000
O Debit to Interest Expense of $3,000/ Gastos de débito a intereses de $3,000
Debit to Interest Expense of $9,000 / Gastos de débito a intereses de $9,000O
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