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Find sky mountain adjusting entry four months later at dec

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Reference no: EM132513382

Question 1: On September 1, Sky Mountain Co. borrowed $61,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a:

  1. debit to Interest Expense of $2,745.
  2. debit to Interest Expense of $3,660.
  3. debit to Interest Expense of $915.
  4. debit to Interest Expense of $1,220.

Reference no: EM132513382

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