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If the first installment of a 24 month bank loan is paid, which one of the following is not included in the accounting record of
If the first installment of a 24 month bank loan is paid, which one of the following is not included in the accounting record of the first installment?
No | Months | Beginning | Payment | Interest | Principal | Ending |
Balance | Balance | |||||
1 | March 2015 | 30.000 | 2.174 | 1500 | 674 | 29.326 |
2 | April | 29.326 | 2.174 | 1466 | 708 | 28.618 |
3 | May | 28.618 | 2.174 | 1431 | 743 | 27.875 |
4 | June | 27.875 | 2.174 | 1394 | 780 | 27.095 |
5 | July | 27.095 | 2.174 | 1355 | 819 | 26.276 |
6 | August | 26.276 | 2.174 | 1314 | 860 | 25.416 |
7 | September | 25.416 | 2.174 | 1271 | 903 | 24.512 |
8 | October | 24.512 | 2.174 | 1226 | 948 | 23.564 |
9 | November | 23.564 | 2.174 | 1178 | 996 | 22.568 |
10 | December | 22.568 | 2.174 | 1128 | 1.046 | 21.523 |
11 | January 2016 | 21.523 | 2.174 | 1076 | 1.098 | 20.425 |
12 | February | 20.425 | 2.174 | 1021 | 1.153 | 19.272 |
13 | March | 19.272 | 2.174 | 964 | 1.210 | 18.061 |
14 | April | 18.061 | 2.174 | 903 | 1.271 | 16.791 |
15 | May | 16.791 | 2.174 | 840 | 1.334 | 15.456 |
16 | June | 15.456 | 2.174 | 773 | 1.401 | 14.055 |
17 | July | 14.055 | 2.174 | 703 | 1.471 | 12.584 |
18 | August | 12.584 | 2.174 | 629 | 1.545 | 11.039 |
19 | September | 11.039 | 2.174 | 552 | 1.622 | 9.417 |
20 | October | 9.417 | 2.174 | 471 | 1.703 | 7.714 |
21 | November | 7.714 | 2.174 | 386 | 1.788 | 5.925 |
22 | December | 5.925 | 2.174 | 296 | 1.878 | 4.047 |
23 | January 2017 | 4.047 | 2.174 | 202 | 1.972 | 2.076 |
24 | February | 2.076 | 2.174 | 104 | 2.070 | 6 |
Select one:
780 Financing Expenses 1.500 debit
Short-term Portion of LT Debt 674 debit
Banks 2.174 credit
Short-term Portion of LT Debt 674 credit
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