SOLUTION: Co. made an adjusting entry accruing interest for $800 on a note payable for the month of January. The note required 12% per annum on the principal. The principal amount of the no

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Question 510987: Co. made an adjusting entry accruing interest for $800 on a note payable for the month of January. The note required 12% per annum on the principal. The principal amount of the note payable must have been
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
0.12/12=0.01
800/0.01=$80,000