Question
On January 1, 2022 Calcium Inc. borrowed $210,000, 4.5% for 5 years. Equal instalment payments of $23,685 are due semi-annually on June 30 and December
On January 1, 2022 Calcium Inc. borrowed $210,000, 4.5% for 5 years. Equal instalment payments of $23,685 are due semi-annually on June 30 and December 31.
Instructions
- Prepare an instalment schedule for the first four payment periods.
- Prepare all journal entries for the fiscal year 2022.
- What are the current and non-current portions of the loan at the end of period December 31, 2022?
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Capital Market Instruments Analysis And Valuation
Authors: M. Choudhry, D. Joannas, G. Landuyt, R. Pereira, R. Pienaar
3rd Edition
0230576036, 9780230576032
