Use the Following Information for Questions

question 143

Short Answer

Use the following information for questions
On October 1, 2012, Carla's Carpet Service Limited borrows $80,000 from Regional Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month.
-What adjusting entry is required at December 31, 2012?

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Definitions:

Empowerment Skill

The ability to give individuals or teams the autonomy, resources, and capabilities to influence their work and decision-making process.

Communication Skills

The ability to convey information effectively and efficiently, both verbally and non-verbally, to a range of audiences.

Competitive Skill

A rephrased definition: An attribute or capability that gives an individual or entity an edge over rivals in a competitive environment.

Process Skills

The abilities required to manage and execute processes in an organization efficiently, including planning, monitoring, and optimizing various operational or production processes.