On december 31 2010 the notes payable account at beths, Ask an Expert

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On December 31, 2010, the Notes Payable account at Beth's Boutique Shop had a balance of $42,000. This amount represented funds borrowed on a six-month, 10 percent note from the firm's bank on December 1. Record the journal entry for interest expense on this note that should be recorded on the firm's worksheet for the year ended December 31, 2010

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M989065

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