Cookie lapp travel barrowed $50,000 on O

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$1.00 Cookie lapp travel barrowed $50,000 on O

From Business: Accounting
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Due on Sep. 04, 2009
Asked on Sep. 01, 2009 at 05:43:01AM

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Cookie lapp travel barrowed $50,000 on October 1 by signing a one year note payable to Community One Bank. Lapp's interest expense for the remainder of the year (October through December) is $700. 1. Make Cookie Lapp's adjusting entry to accrue interest expense at December 31. Date the entry and include its explanation. 2. Post to the two accounts affected by the adjustment.

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$1.00 Cookie lapp travel barrowed $50,000 on O

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