The business borrowed a 2-year 10% long term loan for TL 36.000 on November 1, 2014. The business makes the principal repayments to the bank in 2 equal installments and interest payments annually. Which entry is made on Dec 31, 2014 to record the current portion of the loan that will be due within 1 year?

a.

TL600 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan

b.

TL3.000 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan

c.

TL18.000 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan

d.

TL36.000 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan