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An organisation's year end is 30 September. On 1 January 20X6 the organisation took out a loan of $100,000 with annual interest of 12%.
An organisation's year end is 30 September. On 1 January 20X6 the organisation took out a loan of $100,000 with annual interest of 12%. The interest is payable in equal instalments on the first day of April, July, October and January in arrears. How much should be charged to the income statement for the year ended 30 September 20X6?
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
2nd edition
73396958, 978-0077630461, 77630467, 978-0073396958
