Opening vignette
Depreciation expense $1,000. Accumulated depreciation $1,000. The note payable was signed on August 1, 20x4. Its interest rate was 10%, and no interest had been recorded since the signing. Interest expense $100. Interest payable $100. Unpaid employee wages at September 30 totaled $1,000. Wages expense $1,000. Wages payable $1,000 ................
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