Have a problem with Interest accrued on the bonds payable is $15,000 as of 12/31/10 Here is the given information:
Selected amounts from Trent Company's trial balance of 12/31/10 appear below: Accounts Payable - $ 160,000; Accounts Receivable - $150,000; Accumulated Depreciation—Equipment - $200,000; Allowance for Doubtful Accounts - $20,000; Bonds Payable - $500,000; Cash - $150,000; Common Stock - $60,000; Equipment - $840,000; Insurance Expense - $30,000; Interest Expense - $10,000; Merchandise Inventory - $300,000; Notes Payable (due 6/1/11) - $200,000; Prepaid Rent - $150,000; Retained Earnings - $818,000; Salaries and Wages Expense - $328,000. (All of the above accounts have their standard or normal debit or credit balance.)Prepare adjusting journal entries at year end, December 31, 2010, based on the following supplemental information:
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