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\ instalments of

$8,182

principal and interest on June 30 each year. The company records adjusting journal 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.)\ Annual\ Interest\ Period\ Cash Payment\ Interest Expense\ Reduction of Principal\ Principal Bal\ July 1 ,\ 2023\ June\ 30 ,\ 2024\ June\ 30 ,\

2025

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 instalments of $8,182 principal and interest on June 30 each year. The company records adjusting journal 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.)