Business, 25.03.2020 02:11 kaliyab191

On September 1, Kennedy Company loaned $135,000, at 10% annual interest, to a customer. Interest and principal will be collected when the loan matures one year from the issue date. Assuming adjustments are only made at year-end, what is the adjusting entry for accruing interest that Kennedy would need to make on December 31, the calendar year-end

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On September 1, Kennedy Company loaned $135,000, at 10% annual interest, to a customer. Interest and...

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