Pattie's Event Planning Service Has Just Prepared the Unadjusted Trial

question 149

Multiple Choice

Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances: On the first day of January, Pattie borrowed $1,800 on a one-year note payable bearing interest at 4% per year. The note specifies that principal and interest is to be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show what amount for Interest expense?

• A)Debit balance of $36
• B)Credit balance of $36
• C)Debit balance of $72
• D)Debit balance of $6

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Revenue

The aggregate revenue from goods sold or services provided that form the main activities of a business.

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The total amount of a specific good or service that is available for purchase in a given market at various prices, over a specified period.

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