The following is a partial unadjusted Trial Balance Bravo Un

The following is a partial unadjusted Trial Balance.

Bravo Unlimited

Unadjusted Trial Balance (partial)

4/30/16

Accounts

Debit

Credit

Cash

$10,500

Interest Expense

225

Accounts Payable

$15,000

Interest Payable

0

Loans Payable

15,000

Bravo signed a $15,000 loan bearing a 6% interest rate for 3 year. Interest is payable on a quarterly basis with the principle due at the end of 3 years. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write \"No Entry Required.\"

Unadjusted Trial Balance (partial)

5/31/16

Accounts

Debit

Credit

Cash

$25,000

18,000

Wages Payable

$0

Bravo pays its employee weekly ($750 for a five day work week) on Fridays for work completed during that week. May 31 is a Tuesday. Use this information to prepare the compound General Journal entry (without explanation) for the required payroll payment on June 3, 2016. If no entry is required then write \"No Entry Required.\"

The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 4/30/16 Accounts Debit Credit Cash $10,500 Interest Expense 225 Accounts Payable $15,000 Interest Payable 0 Loans Payable 15,000 Bravo signed a $15,000 loan bearing a 6% interest rate for 3 year. Interest is payable on a quarterly basis with the principle due at the end of 3 years. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write \"No Entry Required.\"
Unadjusted Trial Balance (partial)
5/31/16
Accounts	Debit	Credit
Cash	$25,000
	18,000
Wages Payable		$0

Solution

Date Accounts Debit Credit 04/30/16 Interest Expense 225 Interest Payable 225 ($15000*6%/12) 05/31/16 Wages 300 Wages Payable 300 ($ 750/5 days *2 days)