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Posted on Aug 02, 2024

Ellen Company loaned $ 1 0 , 0 0 0 cash to Ann Company on August 1 , Year 1 . The loan had a

Ellen Company loaned $

10, 000

cash to Ann Company on August

1,

Year

1 .

The loan had a one year term and a

6 %

annual interest rate. Principal and interest are payable at maturity. Match the amounts shown in the right column with Ellen Company's financial statement items that are shown in the left column. Assume that the company's balance sheet date is

31

st December each year

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