/1195685/as module item jd 12594201 THDtn CALCULATOR PRINTER VERSION Brief Exerc

Question

/1195685/as module item jd 12594201 THDtn CALCULATOR PRINTER VERSION Brief Exercise 13-2 Skysong Company 1, 2017, ork borro ed $31,200 on November 1 2017, by signing a $31,200, 9% 3-month note. Prepare Skysong's November 2017, annual adjusting entry: and the February 1, 2018, entry. (II no entry is required, select Entry" for the account titles and enter o for the amounts. Credit account bitles are automat amount is entered. Do not indent manually.) 10 Date Account Titles and Explanation Debit Credit saw p IAna Question Attempts: 00' 5 used 1901977 tn sert prt s

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit 2017, Nov 1 Cash a/c 31200 Notes payable a/c 31200 2017, Dec 31 Interest expenses a/c (31200*9%*2/12) 468 Interest payable a/c 468 2018, Feb 1 Notes payable 31200 Interest payable 468 Interest expenses (31200*9%*1/12) 234 Cash a/c 31902

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