Business, 20.08.2021 22:10, Jasten

A company borrowed $4,000 from the bank at an interest rate of 9%. By the end of the accounting period, the loan had been outstanding for 30 days. Demonstrate the required adjusting entry by choosing the correct statement below. Multiple choice question. Debit Interest payable for $30. Credit Interest expense for $30. Debit Interest expense for $30. Credit Unearned revenues for $30.

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A company borrowed $4,000 from the bank at an interest rate of 9%. By the end of the accounting peri...