Why the interest payable must be recorded, Accounting Basics

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Why the interest payable must be recorded

Dec. 1 The van loan payment is due on the first of each month; therefore, at Dec. 31 one month of interest has accrued and is due on January 1. Interest payable must be recorded for one month. The January loan payment will be 451.64 of which 325.98 is principle and the remainder is interest.

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Accounting Basics: Why the interest payable must be recorded

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Accounting Basics: Why the interest payable must be recorded

Reference No:- TGS0704941

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Indicate the adjusted balance in each account

Q : What could you tell your boss about the results

Q : Calculate the purchase amount of the company

Q : The same time introduced a second product called

Q : Why the interest payable must be recorded

Q : Calculate the individual''s share of income tax

Q : Discuss about a software with a current market value

Q : What is the basic earning per share

Q : Why the market for the product has changed substantially

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Why the interest payable must be recorded

Reference No:- TGS0704941

Recent Questions Asked Accounting Basics

Q : Indicate the adjusted balance in each account

Q : What could you tell your boss about the results

Q : Calculate the purchase amount of the company

Q : The same time introduced a second product called

Q : Why the interest payable must be recorded

Q : Calculate the individual''s share of income tax

Q : Discuss about a software with a current market value

Q : What is the basic earning per share

Q : Why the market for the product has changed substantially

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