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View Full Version : Worksheet - Adjustments for Trial Balance


nasgirl44
Nov 28, 2010, 03:52 PM
I need help with the following accounting problem. The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense accounts equals the amount paid for the first 11 months of the 2009 fiscal year. The $200 accrued interest for June has not yet been paid or recorded. (Note that the company is required to make a $4500 payment toward the note payable during the 2010 fiscal year). This is being done as a worksheet as an adjustment for the trial balance. I have all of the of transactions, but I am off by $4500 on the debit side of the adjusted trial balance

Just Looking
Dec 1, 2010, 05:33 PM
What entry did you make in your adjustments for the $4500 payment required in 2010?