The following instalment payment schedule is for a long$-$term bank loan payable:

Assuming payments are made annually, what is the interest rate on the bank loan? $($Round answer to $0$ decimal places, e$.$g$.12\%.)$

Interest rate

$\%$

eTextbook and Media

List of Accounts

Prepare the journal entry to record the first instalment payment. $($Round answers to $2$ decimal places, e$.$g$.1\mathrm{.}25.$ Credit account titles

are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account

titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles

Debit

Credit

eTextbook and Media

List of Accounts

What are the current and non$-$current portions of the bank loan after the payment at the end of period $2?($Round answers to $2$

decimal places, e$.$g$.1\mathrm{.}25.)$

Current portion