On July $1,2023,$ Sandhill Ltd$.$ received a loan from its bank for $$13,000$ bearing interest at $6\%.$ The loan is payable in two annual

instalments of $$7,091$ principal and interest on June $30$ each year. The company records adjusting joumal entries annually at year end

on December $31.$

$($a$)$

Prepare an instalment payment schedule for the term of the loan. $($Round answers to $0$ decimal places, e$.$g$.5,255.)$On July $1,2023,$ Pharoah Ltd$.$ received a loan from its bank for $15,000$ bearing interest at $6\%.$ The loan is payable in two annual ninstalments of$8,182$ principal and interest on June $30$ each year. The company records adjusting journal entries annually at year end non December $31.$ n$($a$)$ nPrepare an instalment payment schedule for the term of the loan. $($Round answers to $0$ decimal places, e$.$g$.5,255.)$ nAnnual nInterest nPeriod nCash Payment nInterest Expense nReduction of Principal nPrincipal Bal nJuly $1,$ n$2023$ nJune n$30,$ n$2024$ nJune n$30,$ n$2025$ On July $1,2023,$ Pharoah Ltd$.$ received a loan from its bank for $ $15,000$ bearing interest at $6$