Current Attempt in Progress

Ivanhoe Greenhouses Ltd$.$ signed a $15-$year, $6\mathrm{.}5\%,$ $$940,000$ loan on September $30,2024,$ to help finance a new state$-$of$-$the$-$art

greenhouse with an associated renewable energy source. The loan terms provide for semi$-$annual payments of $$49,521$ principal and

interest. Payments are due on March $31$ and September $30.$ The company's year end is September $30.$

$($a$)$

Your answer is correct.

Prepare an instalment payment schedule for the first two years. $($Round answers to $0$ decimal places, e$.$g$.5,255.)$

Semi$-$Annual

Interest Period

Cash Payment

Interest Expense

Reduction of Principal

Sept. $30,2024$

Mar. $31,2025$

Sept. $30,2025$

Mar. $31,2026$

Sept. $30,2026$

eTextbook and Media PEASE $DO$ A JOURNAL ENTRY FOR SEPTEMBER $30,2024,$ ONLY HAVE TWO LINES, DEBIT CASH, BUT WHAT $IS$ THE AMOUNT, NOT $19588,$ NOR $49521.$ AND THE CREDIT TITLE i HAVE $NO$ IDEA