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What adjusting entry is required at december

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Reference no: EM132493077

Question 1: On October 1, 2019, La Salle Mechanical Services Limited borrowed $80,000 from Flush Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month. What adjusting entry is required at December 31, 2019?

Dr. Interest Expense $267, Cr. Bank Loan Payable $267

Dr. Interest Expense $800, Cr. Interest Payable $800

Dr. Interest Expense $1,067, Cr. Bank Loan Payable $1,067

Dr. Interest Expense $267, Cr. Interest Payable $267

Reference no: EM132493077

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