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On the 1 st of February 2020 the company lent $10,000 to a director for 3 years. The company charges 5% interest per year. Assume

On the 1^st of February 2020 the company lent $10,000 to a director for 3 years. The company charges 5% interest per year. Assume the loan is interest only. Interest payments are made at the end of July and at the end of January. Prepare the journal entry for the following dates.

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