PARTA 5 marks Carlton Ltd borrows $80,000 from the Collingwood Bank on the 1st July 20X4. The loan is secured by a mortgage over real estate. The term of the loan is four years with fixed compound interest of 4% per annum paid in arrears. The loan is repaid in 6 monthly instalments of interest and principal with the first instalment occurring on the 31st December 20X4. These instalments are each $10,921 (rounded to the nearest dollar). Required: a) A partially complete loan repayment schedule for the entire loan is provided below. Complete the schedule by inserting the correct numbers in the eight (8) vacant shaded cells. Round numbers to the nearest whole dollar. 3 marks Opening Loan Instalmente Interest Instalment Date Closing Loan Balance Principal Component Reduction $ $ Paide $2 Balance $e $e 31/12/X4 80,000 10,9212 1,600 9,321 70,6792 30/6/15 70,6792 10,9212 9,5072 61,1722 1,414 E 31/12/X5e 61,1722 10,921 9,6982 51,4742 30/6/X6 51,4742 10,9212 1,029 9,892e 41,5822 T. 31/12/X62 41,582 10,921 832 E- 31,4932 30/6/X7e 31,4932 10,921 630 10,2912 21,202 F 31/12/X72 21,202 10,9212 E 30/6/X8 Fe 10,9192 Fe = last payment amount reflects prior roundings. E E- 02 b) CR Prepare the general journal entry for the loan instalment paid on the 30th June 20x7. Narration not required. 2 marks Date DR. E- E E- E E E E