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QUESTION 09 (SHOW YOUR COMPUTATION) 25 points On December 31, 2022, Luthor Co. rendered services to Hanamasa Co. at an agreed price of 164,788, accepting

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QUESTION 09 (SHOW YOUR COMPUTATION) 25 points On December 31, 2022, Luthor Co. rendered services to Hanamasa Co. at an agreed price of 164,788, accepting 39,900 down and agreeing to accept the balance in six equal installments of 25,000 receivable every semester. An assumed interest rate of 11% p.a is imputed. Instructions Prepare the entries that would be recorded by Regent ple for the sale and for the receipts and interest on the following dates. (Assume that the effective-interest method is used for amortization purposes.) December 31, 2022. December 31, 2023. December 31, 2025

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