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Consider the following loan schedule: Payment ($) Interest ($) Principal ($) Balance ($) 30 June 2018 500,000 30 June 2019 100,000 45,000 55,000 445,000 30
Consider the following loan schedule:
Payment ($) | Interest ($) | Principal ($) | Balance ($) | |
30 June 2018 | 500,000 | |||
30 June 2019 | 100,000 | 45,000 | 55,000 | 445,000 |
30 June 2020 | 100,000 | 40,050 | 59,950 | 385,050 |
30 June 2021 | 100,000 | 34,655 | 65,346 | 319,705 |
30 June 2022 | 100,000 | 28,773 | 71,227 | 248,478 |
30 June 2023 | 100,000 | 22,363 | 77,637 | 170,841 |
State the amount that would be disclosed as an expense for the year ended 30/6/2021.
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