Question: 1. Billy has a loan on a round baler. List all the places on the balance sheet where we would see information related to this

1. Billy has a loan on a round baler. List all the places on the balance sheet where we would see information related to this loan (give the line name and section of the balance sheet each would be on)?

2. List two effects/impacts of completely writing off (depreciating) a tractor the year it is purchased?

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