Payment of note plus accrued interest at maturity

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On September 1, 2015, Daylight Donuts signed a $120,000, 8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2016. Daylight Donuts records the appropriate adjusting entry for the note on December 31, 2015. In recording the payment of the note plus accrued interest at maturity on March 1, 2016, Daylight Donuts would

Reference no: EM131073589

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Payment of note plus accrued interest at maturity : On September 1, 2015, Daylight Donuts signed a $120,000, 8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2016. Daylight Donuts records the appropriate adjusting entry for the note on December..

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