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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.
-What adjusting entry is required at December 31, 2012?

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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.
-What adjusting entry is required at December 31, 2012?

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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.
-What adjusting entry is required at December 31, 2012?

Use the Following Information for Questions