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The Following Adjustments Must Be Made When Interest Is Paid

question 95

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The following adjustments must be made when interest is paid semi-annually vs. annually except:


Definitions:

Creditor

An individual or institution to which money is owed.

Expense

A financial outlay that is incurred through business operations or activities.

Equipment

Tangible, long-term assets used in the operations of a business, not intended for sale.

Supplies

Supplies are consumable items used in the everyday operations of a business, such as office materials, that are not resold to customers.

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