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What is the loan balance after the first payment

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Reference no: EM132600964

On 01/07/2018 "ABC" Company borrowed $250,000 at an interest rate of 8% for 5 years. The loan agreement shows that the company must pay and amount of $ 15,289.18 every 3 months.

Based on the above given information, answer the following questions:

Question 1. What is the loan's balance after the first payment?

Question 2. What is the amount of interest expense to be recorded on the company's income statement for the year 2018?

Question 3. As on 31/12/2018, In the current liability section, the company must present the loan with an amount of

Reference no: EM132600964

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