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I just need help with d the other questions are correct On July 1, 2020, Sunland Ltd. borrowed $16,000 by signing a two-year, 4% note
I just need help with d the other questions are correct
On July 1, 2020, Sunland Ltd. borrowed $16,000 by signing a two-year, 4% note payable. The note is payable in two annual instalments of $8,483 on June 30 . The company records adjusting journal entries annually at year end on December 31. (a) Your answer is correct. Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, e.g. 5,255.) Notes Payable Interest Expense Interest Payable 2021 Interest Expense Interest Payable Notes Payable Cash 320 3: What amounts would Sunland report as current and non-current in the liabilities section of its statement of financial position on December 31, 2020? (Round answers to the nearest whole dollar, e.g. 5,255.) What amount would Sunland report as current and non-current in the liabilities section of its statement of financial position on December 31, 2021? (Round answers to the nearest whole dollar, e.g. 5,255.)Step by Step Solution
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