Business, 17.02.2020 16:56 KWffrd6661
Mama's Pizza Shoppe borrowed $6,000 at 9% interest on May 1, 2021, with principal and interest due on October 31, 2022. The company's fiscal year ends June 30, 2021. What adjusting entry is necessary on June 30, 2021?
Multiple Choice:
A. Prepaid interest 90
Interest payable 90
B. Interest expense 180
Interest payable 180
C. Interest expense 90
Interest payable 90
Answers: 1
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Mama's Pizza Shoppe borrowed $6,000 at 9% interest on May 1, 2021, with principal and interest due o...
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