Balance of Interest ExpenseThe trial balance for Ariel Certified Cleaners appears as follows:Ariel Certified CleanersTrial BalanceSept. 30, 2015DebitCreditCashB117,880Accounts Receivable264,940Prepaid Insurance34,000Cleaning Supplies73,740Land180,000BuildingAccumulated Depreciation - Building1,850,0009456,000Accounts Payable204,000Uneamed Cleaning Revenues16,000Mortgage Payable1,100,000Ariel, Capital565,600Ariel, Withdrawals100,000Cleaning RevenuesSalaries Expense1,576,3401,013,300Cleaning Equipment Rental Expense60,000Delivery Truck Expense43,740Interest Expense110,000Other ExpenseTotal :70,340P3,917,940P3,917,940Voue ono Ior Accrued interest on the mortgagepayable is P10,000. Amount:The trial balance for Ariel Certified Cleaners appears as follows:Ariel Certified CleanersTrial BalanceSept. 30, 2015DebitCreditCashB117,880Accounts Receivable264,940Prepaid Insurance34,000Cleaning Supplies73,740Land180,000Building1,850,000Accumulated Depreciation - BuildingB456,000Accounts Payable204,000Unearned Cleaning Revenues16,000Mortgage PayableAriel, Capital1,100,000565,600Ariel, Withdrawals100,000Cleaning Revenues1,576,340Salaries Expense1,013,300Cleaning Equipment Rental Expense60,000Delivery Truck Expense43,740Interest Expense110,000Other Expense70,340Total :P3,917,940P3,917,940

Name: Balance of Interest ExpenseThe trial balance for Ariel Certified Clea
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Description: Balance of Interest ExpenseThe trial balance for Ariel Certified Cleaners appears as follows:Ariel Certified CleanersTrial BalanceSept. 30, 2015DebitCreditCashB117,880Accounts Receivable264,940Prepaid Insurance34,000Cleaning Supplies73,740Land180,00

In this question, we have given a trial balance and we have to find out the interest Expense amount…

Answered: Balance of Interest Expens

Business

Accounting

Balance of Interest Expens

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 17RE: Using the information provided in RE17-16, prepare the journal entries to record Year 1s (a)...

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