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    ed0623's Avatar
    ed0623 Posts: 9, Reputation: 1
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    #1

    Aug 5, 2013, 05:46 PM
    Adjusting entries
    Notes payable beginning is 500,000. What would be the adjusting entries if the interest of 60,000 on the notes payable has accrued at the year end?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Aug 5, 2013, 05:48 PM
    Your accounts will be Interest Expense and Interest Payable for the amount given.
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