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April 18, 2014

Homework Help: Accounting

Posted by Sondra on Monday, April 25, 2011 at 10:08pm.

#9 Unrecorded Liability: Adjusting Entry
Refer to PE 4-8. (1) Make the adjusting entry necessary on the companyís books with respect
to this loan on December 31. (2) Make the journal entry necessary on the companyís
books on the following April 30 to record payment of interest for the first year of the loan.
Note: When making this April 30 entry, donít forget the adjusting entry that was made on
December 31.

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