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Question 3 (10) Anthropologie Ltd. Borrows $100,000 to invest in a new online ordering system January 1, 2023. The interest rate is 10% and they
Question 3 (10) Anthropologie Ltd. Borrows $100,000 to invest in a new online ordering system January 1, 2023. The interest rate is 10% and they have taken it out for 3 years. The blended interest and principal payments are $40,211.48 per year. Required: A) Record the journal entries for the initial transaction and then the journal entries for each of the 3 years until the loan is repaid. B) Calculate the current portion of current and long term debt at the end of 2024.
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