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On July 1,2023, Blossom Ltd, received a loan from its bank for $10,000 bearing interest at 4%. The loan is payable in two annual Instalments

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On July 1,2023, Blossom Ltd, received a loan from its bank for $10,000 bearing interest at 4%. The loan is payable in two annual Instalments of $5,302 principat and interest on lune 30 each year. The company records adjusting journal entries annually at year end on December 31 . (a) Prepare an instaiment payment schedule for the term of the loan. (Round answers to O decimal places, es. 5,255.) Record (1) the receipt of $10,000 cash from the iosn on July 1,2023 ; (2) the accrual of interest on December 31,2023 ; (3) the first instalment payment on June 30, 2024t and (4) the accrual of interest on December 31. 2024. (Round answers to O decimal places. es. 5.275. Credit account tities are automotically indented when the amount is entered. Do not indent manualif. If no entry is required, select "No Entry' for the accotant titles and enter ofor the amounts. List all debit entries before credit entries) 2024 June 30 \& interest Expense \begin{tabular}{|r|r|} \hline \\ \hline \\ \hline 200 & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Dec. 11 Interestiponse Interest Pawablig eTextbook and Media SUPP What amounts would Blossom report as current and non-current in the liabilities section of its statement of financial position on December 31, 2023? (Round answers to 0 decimal ploces, eg 5,255

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