Financial Accounting 1100 Mastery Assignment Ch.4 Complete the following problems in Excel. Use a different tab for each problems using the correct number format. Make sure you use two accounts (debit and credit) for the adjusting entries. Read the problems carefully. A10.) Prepare journal entries to record the following transactions. Create a T-accou er Interest Payable, post any entries that affect the account, tally the ending lance for the account (assume Interest Payable beginning balance of $2,500). A. March 1, paid interest due on note, $2,500 B. December 31, interest accrued on note payable, $4,250

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.