ANSWERS TO QUESTIONS

December 31 Interest Receivable 10,000 Interest Revenue 10,000 (To record accrued interest revenue on loan) Accrued expenses result from the same causes as accrued revenues. In fact, an accrued expense on the books of one company is an accrued revenue to another company. ... Cash purchases (89,250) Rent paid (6,000) Salaries paid (9,600) Other ... ................
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