FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On June 1, Sunland Company borrows 108,000 from First Bank on a 6 month, $108,000, 8% note.
Prepare the entry on June 1.
Prepare the adjusting entry on June 30.
Prepare the entry at maturity (December 1) assuming monthly
What was the total financing cost (interest expense)?
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