Arcobaleno Bhd requires some funding to finance its project. The management decide to issues RM300,000, 10%...

Arcobaleno Bhd requires some funding to finance its project. The management decide to issues RM300,000, 10% unsecured notes payable to raise up the required capital. The company are obliged with semi-annual instalment payments of RM20,000 each at end of April and October.

Prepare the journal entries to record the loan.

(2 marks)

Prepare the journal entries to record the first instalment payment.

(4 marks)

Solutions

Expert Solution

jeff jeffy answered 2 years ago

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