Course hero team never responded to any of my questions regarding why asking a math question itself is considered cheating.
This is a practice question that is not being submitted as homework………..
I bought a notes payable for 5k at 15% with the market rate being 10% for a period of 3 years. After recording the acquisition of the note 1/1/2011, and paying the interest on the note annually on 12 /31, what is the adjusting entry for the third year(12/31/13). HOW did they get the answer of Equipment cost 5622 and Interest Expense of 523.
I do not need help with definitions, I can look those up. I need help with the accounting math procedure on how they arrived at this answer. Will that be considered cheating?
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