Great Adventures obtains a $41,000 low-intrest loan for the company from the cuty council, which has...

Great Adventures obtains a $41,000 low-intrest loan for the company from the cuty council, which has recently passed an initiative encouraging business developement related to outdoor activities. The loan is due in three years, and 6% annual intrest is due each year on July 31. Record the appropriate journal entry

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The solution has been made on the basis that the company closes its books on 31st December every year
I have provided the entry for all three years

ekkarill92 answered 1 year ago

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