2- Record each of the below transactions in general journal form. (Loan interest would be chargeable to customer account on declining balance method) - Don't forget to write dates and the remaining balances after each journal transactions (Ignore the Decimals after you compute the interest amount) 1) On July 1st, the bank makes a loan of $85,000 to Blue LTD. on its 8 months note with an interest rate of 10%. 2) At the end of the month, on July 31st, the bank charges agreed loan interest of 10% to Blue LTD's account. (Use number of dates when computing the interest amount) 3) On August 13th, Blue LTD makes repayment of $10,000 to its Loan Account. 4) At the end of the month, on August 31st, the bank charges agreed loan interest of 10% to Blue LTD's account. (Use number of dates when computing the interest amount) 5) On September 12th, Blue LTD makes repayment of $10,000 to its Loan Account. 6) On September 20th, Blue LTD pays the rest of the loan and closes the account before the loan term terminates.

2- Record each of the below transactions in general journal form. (Loan interest would be chargeable to customer account on declining balance method) - Don't forget to write dates and the remaining balances after each journal transactions (Ignore the Decimals after you compute the interest amount) 1) On July 1 st, the bank makes a loan of $85,000 to Blue LTD. on its 8 months note with an interest rate of 10%. 2) At the end of the month, on July 31st, the bank charges agreed loan interest of 10% to Blue LTD's account. (Use number of dates when computing the interest amount) 3) On August 13th, Blue LTD makes repayment of $10,000 to its Loan Account. 4) At the end of the month, on August 31st, the bank charges agreed loan interest of 10% to Blue LTD's account. (Use number of dates when computing the interest amount) 5) On September 12th, Blue LTD makes repayment of $10,000 to its Loan Account. 6) On September 20th, Blue LTD pays the rest of the loan and closes the account before the loan term terminates