i am stuck on the following problem.
need help with line 7
7. Recorded the accrued interest on December 31, 2010. see line 4
u can see what line 4 is in the first pic
any help would be appreciated
Loan given on September 1,2010 is an financing activity.
Accrued interest for 4 months (in dollars) = 11000×8%×4/12
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