Question
What are the journal entries for a business if it has a loan of $80,000 which was taken out on March 31st at 10% interest
What are the journal entries for a business if it has a loan of $80,000 which was taken out on March 31st at 10% interest for 8 years with required annual payments of $10,000 plus accrued interest?
Show the double-accounting JE for each of the 8 years with formular used i.e. PMT=(10%,8,-80000,0,0).
When is the first payment recorded Yr 1 December or March 31st of Year 2?
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Robo Auditing Using Artificial Intelligence To Optimize Corporate Finance Processes
Authors: Patrick J.D. Taylor, Manish Singh, Nathanael J. L'Heureux
1st Edition
1544511442, 978-1544511443
