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Please give me the answer as soon as possible. Thank you. Will give you a positive rating without hesitance. Question 2 (19 marks) On 1
Please give me the answer as soon as possible. Thank you. Will give you a positive rating without hesitance.
Question 2 (19 marks) On 1 September 2018, Hanzo borrowed $100,000 from The Actors Finance and signed an 9%, one-year note payable, all due at maturity. The interest on this loan is stated separately. Show all calculations clearly. (a) The amount Hanzo must pay on 1 September 2019, when the note matures is $ (b) The interest expense Hanzo will recognize on this note in 2019 is $ (c) At 31 December 2018, Hanzo' overall liability for this loan amounts to $ (d) In the space provided below, give the adjusting entry made by Hanzo on 31 December 2018, with respect to this note. 31 Dec General Journal (Items (a) to (c): 4 marks each. Item (d): 7 marks) (Total 19 marks) CONTINUE NEXT PAGEStep by Step Solution
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