On September 1, 2011, Miracles, Inc. borrowed 30,000 on 12 note with both interest and principal due on June 1, 2012. Post the adjusting entry for the year ended December 31, 2011 in the T-accounts below:
What will be an ideal response?
Question 2
The journal entry to close expense accounts includes
a. debiting the expense accounts and crediting Income Summary.
b. debiting Income Summary and crediting the expense accounts.
c. debiting the expense accounts and crediting the owner's capital account.
d. debiting the expense accounts and crediting the drawing account.
The terrorist attack of September 11, 2001, is surely a defining event for the cohorts who experienc
Ten Leading Causes of Death in the World, 2011
How to calculate simple interest (Part 1)
A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ...
After 159 days,she paid a maturity value of $11,626, which included interest of $814.