The accounting manager of BCV company noticed that the interest on the mortgage in June has incurred but not paid. The required adjusting journal entries to record an annual interest of $7380 will be: Select one: a. Interest Payable $7,380 Account Payable $7,380 b. Interest Payable $6,765 Interest Expense $615 Account Payable $7,380 c. Interest Expense $615 Interest Payable $615 d. Interest Expense $14,760 Cash $14,760
The accounting manager of BCV company noticed that the interest on the mortgage in June has incurred but not paid. The required adjusting journal entries to record an annual interest of $7380 will be: Select one: a. Interest Payable $7,380 Account Payable $7,380 b. Interest Payable $6,765 Interest Expense $615 Account Payable $7,380 c. Interest Expense $615 Interest Payable $615 d. Interest Expense $14,760 Cash $14,760
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Select one:
a. Interest Payable $7,380
Account Payable $7,380
b. Interest Payable $6,765
Interest Expense $615
Account Payable $7,380
c. Interest Expense $615
Interest Payable $615
d. Interest Expense $14,760
Cash $14,760
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