A Company Borrowed $100,000 at 6% Interest on September 1,2009

question 70

True/False

A company borrowed $100,000 at 6% interest on September 1,2009.Assuming no adjusting entries have been made during the year,the entry to record interest accrued on December 31,2009 would include a debit to interest expense and a credit to interest payable for $2,000.

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