Solved: Interest on notes payable of 300 is accrued and service, Cost Accounting

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Interest on notes payable of 300 is accrued and service

The bookkeeper for Forseth Company asks you to prepare the following accrual adjusting entries at December 31.

(a) Interest on notes payable of $300 is accrued.

(b) Service revenue earned but unbilled totals $1,700.

Use these account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable.

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Cost Accounting: Interest on notes payable of 300 is accrued and service

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Cost Accounting: Interest on notes payable of 300 is accrued and service

Reference No:- TGS0800799

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