Alex has noticed a problem with the balance showing in the Notes payable account, according to a statement sent by the Bank the notes in question has a remaining balance 75,000.00 while the G/L shows a $64,000.00 balance. In researching this ALEX finds that the $3,000.00 per month payment was coded entirely to Notes payable and no entry was made to Interest Expense. What entry should ALEX make to correct...

zijing

• Mar 11th, 2015

E

mikeregas

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• Mar 2nd, 2008

Debit intrest and credit notes payable

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