Romona’s Music School borrowed

Oct 15th, 2015
Anonymous
Category:
Business Finance
Price: $5 USD

Question description

Romona’s Music School borrowed $30,000 from the bank signing a 10%, 6-month note on November 1. Principal and interest are payable to the bank on May 1. If the company prepares monthly financial statements, what adjusting entry should the company make at November 30 with regard to the note?

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