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On March 1, 2020, Jaiku Industrial gave Light Co. a 180-day, 8%, $76,000 note payable to extend a past due account payab
Posted: Wed Jul 06, 2022 6:12 am
by answerhappygod
- On March 1 2020 Jaiku Industrial Gave Light Co A 180 Day 8 76 000 Note Payable To Extend A Past Due Account Payab 1 (35.78 KiB) Viewed 10 times
On March 1, 2020, Jaiku Industrial gave Light Co. a 180-day, 8%, $76,000 note payable to extend a past due account payable. What would be the interest expense to be recorded in the journal entry for Jaiku Industrial when recording payment of the note on August 28, 2020. Jaiku Industrial recorded a April 30th year end adjusting entry. $1,998.90 $999.45 $2,051.51 $2,998.36