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-   -   $2170 in salaries were paid? (https://www.askmehelpdesk.com/showthread.php?t=606214)

  • Oct 23, 2011, 12:01 PM
    ash_pash
    $2170 in salaries were paid?
    Given this transaction, on June 2010 the company paid $2115 on the equipment loan and $429 on accured interest. Of the $429, $220 was axxured interest in 2009 and the remainder was for the accured interest in thr first half of 2010. What would be the journal entries for this transaction?
  • Oct 23, 2011, 12:31 PM
    pready
    Debit Notes Payable for 2115
    Debit Interest Payable for 220
    Debit Interest Expense for the difference
    Credit Cash for 2544

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