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Question 3: The following information was available from the Nottingham Company's records during 2017: On 1 August 2017, the company obtained a Loan in the

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Question 3: The following information was available from the Nottingham Company's records during 2017: On 1 August 2017, the company obtained a Loan in the amount of $240,000 cash that was borrowed from HSBC Bank. The interest rate is 10% and interest is paid annually. Required: Prepare the journal entries/adjusting entries in the following dates: August 2017 : 31 December 2017 : 1 August 2018

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