Idealist Company secured a one-year bank loan of P4,000,000 on October 1, 2022. The loan was...

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Idealist Company secured a one-year bank loan of P4,000,000 on October 1, 2022. The loan was discounted at 10%. The entity signed a note for the loan and pledged P5,000,000 of its accounts receivable as collateral for the same. The accounting period of the entity ends on December 31. Required: 1. Prepare journal entries, including adjustment from the date of loan up to date of maturity. 2. Statement presentation of the bank loan with adequate disclosure on December 31, 2022. u ne su O Idealist Company secured a one-year bank loan of P4,000,000 on October 1, 2022. The loan was discounted at 10%. The entity signed a note for the loan and pledged P5,000,000 of its accounts receivable as collateral for the same. The accounting period of the entity ends on December 31. Required: 1. Prepare journal entries, including adjustment from the date of loan up to date of maturity. 2. Statement presentation of the bank loan with adequate disclosure on December 31, 2022. u ne su O