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Katen [24]
3 years ago
9

Harper Company lends Hewell Company $13,200 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financ

ial statements on March 31. What adjusting entry should be made before the financial statements can be prepared? Select the correct answer.
Business
1 answer:
a_sh-v [17]3 years ago
6 0

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $66

            To Interest revenue A/c $66

(Being accrued interest is recorded)

The computation of accrued interest is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $13,200 × 6% × (1 months ÷ 12 months)

= $66

The one month is calculated from March 1 to March 31

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Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold
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Answer:

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3 years ago
How are business entrepreneurs and social entrepreneurs different?
julia-pushkina [17]

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Which sentences describe characteristics of a partnership?
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4 years ago
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AB Builders, Inc., has 16-year bonds outstanding with a par value of $2,000 and a quoted price of 99.727. The bonds pay interest
galben [10]

Answer:

6.54%

Explanation:

Face Value = $2,000

Current Price = 2000 x 99.727% =  1994.54

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3 years ago
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