principal in ten equal installments, paid annually from Mar 1. The annual interest rate on the loan is 8%, recognized on Dec 31. A. Journalize

Question

83 users unlocked this solution today!

principal in ten equal installments, paid annually from Mar 1. The annual interest rate on the loan is 8%, recognized on Dec 31. A. Journalize receiving the bank loan \begin{tabular}{|c|} \hline Date \\ \hline 3/1/2021 \\ \hline \end{tabular} B. Journalize accrued interest on the loan from the bank for year end adjusting entry \begin{tabular}{|c|c|c|c|} \hline Date & Account & Debit & Credit \\ \hline 12/31/2021 & & & \\ \hline \end{tabular} C. Journalize first principal payment on Mar 1, 2022 including the one year of interest due D. Journalize accrued interest on the loan from the bank for year end adjusting entry