On 1 February 2021 , Design Thinking Pty Ltd obtained a three year bank loan of $90,000

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On 1 February 2021, Design Thinking Pty Ltd obtained a three year bank loan of $90,000 at an annual interest rate of 3.5% p.a.

Record the adjusting entry for the year ending 31 August 2021 by selecting the correct accounts and amounts that are debited and credited.

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Fundamental financial accounting concepts

ISBN: 978-0078025365

8th edition

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

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Posted Date: Nov 22, 2022 04:12 AM

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On 1 February 2021 , Design Thinking Pty Ltd obtained a three year bank loan of $90,000

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Amount borrowed 90000 Interest rate 35 per annum Date of borrow... View the full answer

Fundamental financial accounting concepts

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