Question 5 Part 1 - On July 1, 2021, Namby Limited received an 18-month bank loan for $40,000 from a bank at 6% and with these funds and another $10,000 cash, purchased a vehicle for $50,000. Prepare the journal entries to record each of the following on Namby's books: a. The purchase of the vehicle on July 1, 2021 b. The accrual of interest at Namby's year end, September 30, 2021 and 2022, assuming adjusting entries are recorded annually and interest is due at maturity c. Repayment of the interest and the bank loan on January 1, 2023 Part 2 - On July 1, 2021, the Crookedass Bank lent $40,000 to Namby Limited. The 18-month loan bears interest at 6%. Prepare the journal entries to record each of the following on the Crookedass Bank's books: a. The issue of the bank loan on July 1, 2021 b. The accrual of interest at the Crookedass Bank's year end, December 31, 2021 and 2022, assuming adjusting entries are recorded annually and interest is collected at maturity c. Collection of the interest and the bank loan on January 1, 2023