What account would most likely have been debited

Reference no: EM133609882

Question: Answer the following questions that are related to the following Interest Payable T-account: Interest Payable Debit Credit February 1 balance 1,240 February transactions 1,460 February 28 adjustment ? February 28 balance 2,070 Required: What is the amount of the February 28 adjustment? What account would most likely have been credited for the amount of the February transactions? What account would most likely have been debited for the amount of the February 28 adjustment? Why would this adjusting entry have been made?

Reference no: EM133609882

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