1. Special education teacher
2. Career and technical education teacher
3. Middle school teacher
4. Post secondary teacher
5. Teacher assistant
Dec 31
Dr Interest expense $72,000
Cr Interest Payable $72,000
($900,000*9%)
(Being to record the first year interest expense accrued)
<h3>What is Interest Payable? </h3>
Interest Payable is a liability account, shown on a company's balance sheet, which represents the amount of interest expense that has accrued to date but has not been paid as of the date on the balance sheet.
In short, it represents the amount of interest currently owed to lenders.
<h3>Is interest payable an asset?</h3>
Interest payable is a liability, and is usually found within the current liabilities section of the balance sheet.
Learn more about interest payable here:
<h3>
brainly.com/question/14608867</h3><h3 /><h3>#SPJ4</h3>
Answer: Both the current portion of the tax expense of $40 and the deferred portion of the tax expense of $10.
Explanation:
When calculating the net income on the income statement, both the current portion of the tax expense as well as the deferred portion should be included.
In this scenario that would lead to a net income of:
= Pretax accounting income - Current portion - Deferred portion
= 195 - 40 - 10
= $145
In the given case the accounts were previously written off by debiting the Allowance for doubtful debts accounts now in order to revive these accounts receivable, we should Debit the Accounts Receivable and credit the Allowance for doubtful debts accounts. Hence the account to be credited is Allowance for doubtful debts accounts.
Hence the answer shall be Allowance for doubtful debts accounts