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Tabby IncLends Siamese Ltd

Question 17

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Tabby Inc.lends Siamese Ltd.$50,000 on April 1, accepting a 3-month, 3% interest note.Interest is due the first of each month, commencing May 1.Tabby Inc.prepares financial statements on April 30.What adjusting entry should be made before the financial statements can be prepared? Tabby Inc.lends Siamese Ltd.$50,000 on April 1, accepting a 3-month, 3% interest note.Interest is due the first of each month, commencing May 1.Tabby Inc.prepares financial statements on April 30.What adjusting entry should be made before the financial statements can be prepared?

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