What the entry to record the payment of january should

Reference no: EM132816821

Problem 1: On December 31, Lotus made an adjusting entry to record P11,000 accrued interest payable on its note. This entry was reversed on January 1. On January 15, the note was paid. The payment included interest of P25,000. The entry to record the payment of January 15 should

Reference no: EM132816821

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