The Comma Style Format Adds a Comma and a Dollar

question 15

True/False

The Comma Style format adds a comma and a dollar sign to a cell value.

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Definitions:

Interest Expense

The amount an entity pays over time for the use of borrowed funds.

General Journal Entry

A general journal entry is a record of financial transactions in the accounting records of a business.

Notes Payable

This refers to a written promise to pay a certain amount of money, usually including interest, by a specific date, and is recognized as a liability on a company's balance sheet.

Effective Interest Method

An accounting practice used to allocate loan or bond interest expense over the life of the loan or bond based on the loan's amortized cost.