Use the following information for questions
On October 1, 2012, Carla's Carpet Service Limited borrows $80,000 from Regional Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month.
-The entry by Carla's Carpet Service to record payment of the loan and accrued interest on January 1, 2013 is

Question

Use the following information for questions 
On October 1, 2012, Carla's Carpet Service Limited borrows $80,000 from Regional Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month.
-The entry by Carla's Carpet Service to record payment of the loan and accrued interest on January 1, 2013 is

Quizplus · Accepted Answer

The Answer of Use the following information for questions 
On October 1, 2012, Carla's Carpet Service Limited borrows $80,000 from Regional Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month.
-The entry by Carla's Carpet Service to record payment of the loan and accrued interest on January 1, 2013 is

Use the Following Information for Questions