The company determines that the interest expense on a note payable for the period ending December 31 is $700. This amount is payable on January 1. Journalize these transactions for December 31 and January 1. If an amount box does not require an entry, leave it blank. Dec. 31

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The company determines that the interest expense on a note payable for the period ending December 31 is $700. This amount is payable on January
1.
Journalize these transactions for December 31 and January 1. If an amount box does not require an entry, leave it blank.
Dec. 31
Jan. 1
Transcribed Image Text:The company determines that the interest expense on a note payable for the period ending December 31 is $700. This amount is payable on January 1. Journalize these transactions for December 31 and January 1. If an amount box does not require an entry, leave it blank. Dec. 31 Jan. 1
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