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    tjcota1982's Avatar
    tjcota1982 Posts: 4, Reputation: 1
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    #1

    Jan 12, 2007, 02:23 PM
    Making adjustments before the financial statements
    The interest accrued on a bonds payable is $20,000 as of Dec. 31st and the bond payable is $500,000.

    Interest Expense…………………………….. 20,000
    Accumulated Interest payable………………. 20,000

    Is this correct?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jan 12, 2007, 08:13 PM
    Yeah.
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