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On April 1, 2020, Dsseldorf Ltd. borrowed $402,000 for 20 years. Principal repayments of $20,100 and interest at 9% are due annually on March
On April 1, 2020, Dsseldorf Ltd. borrowed $402,000 for 20 years. Principal repayments of $20,100 and interest at 9% are due annually on March 31. Prepare all of the journal entries required in relation to the loan for the year ended June 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation (To record the loan) (To record interest) Debit Credit
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