HW Ch 3 solutions

HW Ch 3 solutions - Exercise 3-3 (25 minutes) a. Apr. 30...

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Exercise 3-3 (25 minutes) a. Apr. 30 Legal Fees Expense. ............................................ 4,500 Legal Fees Payable. ...................................... 4,500 To record accrued legal fees. May 12 Legal Fees Payable. ............................................. 4,500 Cash. .............................................................. 4,500 To pay accrued legal fees. b. Apr. 30 Interest Expense. .................................................. 1,900 Interest Payable. ........................................... 1,900 To record accrued interest expense. May 20 Interest Payable. ................................................... 1,900 Interest Expense. .................................................. 3,800 Cash. .............................................................. 5,700 To record payment of accrued and current interest expense ($5,700 – 1,900). c. Apr. 30 Salaries Expense. ................................................. 4,800 Salaries Payable. .......................................... 4,800
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HW Ch 3 solutions - Exercise 3-3 (25 minutes) a. Apr. 30...

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