Preparing financial statements of a company

Reference no: EM13156223

Grayson Bank agrees to lend the Trust Company $100,000 on January 1. Trust Company signs a $100,000, 9%, 9-month note. What is the adjusting entry required if Trust Company prepares financial statements on June 30?

1. Interest Expense 9,000
Interest Payable 9,000

2. Interest Expense 6,750
Interest Payable 6,750

3. Interest Payable 4,500
Interest Expense 4,500

4. Interest Expense 4,500
Interest Payable 4,500

Reference no: EM13156223

Questions Cloud

What are the implications of type one error for traffic flow : Set up the null and alternative hypotheses to see if the data show that it does indeed take seniors longer than 15 seconds to cross the street. In terms of traffic flow, what are the implications of a Type I error?

What are mitochondria : WHAT Are mitochondria

What is the final temperature of the water-iron mixture : A 24.7 g sample of pure iron at 61°C is dropped into 99 g of water at 25°C. What is the final temperature of the water-iron mixture?

How are the gradients of bcd and hb-m established : How are the gradients of BCD and HB-M established during early embryogenesis in Drosophila? What is the role of the cytoskeleton in this process?

Preparing financial statements of a company : Grayson Bank agrees to lend the Trust Company $100,000 on January 1. Trust Company signs a $100,000, 9%, 9-month note. What is the adjusting entry required if Trust Company prepares financial statements on June 30?

Antibiotic resistance : Antibiotic resistance" is frequently cited example of natural selection. In your own words, write a primary post of at least 125 words explaining this example.

Paragraph for each source : Using each of these sources. would you be able to write a paragraph for each source using quotes from the sources, talking about the mammoth extinction and the type of source it is i.e primary, secondary, bias, unbias, reputable..?

Why does the child not display the mutant phenotype : Both loci for a gene from a parent who has a mutant phenotype and his normal child indicate they are both heterozygous with the same alleles. Why does the child not display the mutant phenotype?

Explain integrated to integrated rate laws : what will the concentration be after 3.00 minutes? B)A zero-order reaction has a constant rate of 3.40×10^?4 M/s . If after 80.0 seconds the concentration has dropped to 3.00×10^?2 M , what was the initial concentration?

User Account

All Pages