Question: E 1 0 . 7 ( LO 2 ) ( Analyze instalment payment schedule. ) The following instalment payment schedule is for a long -

10.7 (

2) (

Analyze instalment payment schedule.

)

The following instalment payment schedule is for a long

-

term bank loan payable:

InstructionsAssuming payments are made annually, what is the interest rate on the bank loan?Prepare the journal entry to record the first instalment payment.What are the current and non

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current portions of the bank loan after the payment at the end of period

2 ?

E10.7(LO 2)(Analyze instalment payment schedule.) The following instalment payment schedule is

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