QUESTION Not complete Marked out of 18.00 Flag question Adjusting Entries for Interest The following...
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QUESTION Not complete Marked out of 18.00 Flag question Adjusting Entries for Interest The following note transactions occurred during the year for Towell Company: Dec. 22 Towell gave Barr, Inc., a $12.000, eight percent, 60-day note in payment of account Prepare the general journal entries necessary to adjust the interest accounts at December 31. Use 360 days for calculations and round to the nearest dollar. General Journal Date Description Debit Credit To accrue interest expense for note issued on Now. 25 To accrue interest expense for note signed on Dec. 7 To accrue interest expense for note on Dec. 22
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