AGEC 205: Agricultural Business Accounting Homework 5 For each of the following transactions, show journal entries during the year and make the end-of- year adjustments using journal entries. Fiscal year starts on July 1, 2018 and ends on June 30, 2019. Assume zero opening balances. Decrease in feed inventory of $2,000. $600 worth of feed used in business on Sept 19. 1. 2. Loan of $10,000 with an interest rate of 10 %. Loan term is 5 years, payments are made annually, and one payment made during year on Dec 10. 3. Purchase of a farm vehicle 3 years ago for $25,000. The useful life of the vehicle is 12.5 years after which it will be scrapped