Solved: Assuming monthly adjustment entries have been made through, Accounting Basics

Assuming monthly adjustment entries have been made through

Question - On June 1 Capian Company borrows $90,000 from first bank on a 6 month $90,000, 12% note. Prepare the entry for June 1; prepare the adjusting entry for June 30; prepare the entry at maturity (december1), assuming monthly adjustment entries have been made through November 30; what was the total financing cost (interest expense)?

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Accounting Basics: Assuming monthly adjustment entries have been made through

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