Of those listed below, the best example of a pure public good is a. a public school b. a radio broadcast c. a hardcover copy of
1 answer:
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Answer:
Debit interest expense and credit interest payable by $150
Explanation:
Given:
Amount borrowed = $30,000
Interest rate = 6%
Maturity = 6 months
If the company prepares monthly financial statements, then interest incurred in the month of November:
Interest expense =
= $150
Adjusting entry passed:
Date Particulars Debit($) Credit($)
30th Nov Interest expense 150
Interest payable 150
(Being interest expense
accrued)