Instructions: 

After recording the required entries, answer the following questions 

1- The accrued interest is presented in the financial position statement for the year 2019 with the value of 

2- The loan is presented in the financial position statement for the year 2019 with the value of. 

3. The total amount of interest that is paid on 1/10/2020: 

4- The gain of currency differences for the year 2020 are: 

5- The total amount that is repaid on the due date (1/10/2020) is: 

6- The loan is presented in the financial position statement at the end of 2020 with the value of:

Transcribed Image Text:

On 1/7/2019, the ministry of planning borrowed 2000000 Euro in order to finance some of its projects. The loan will be repaid as one payment on 1/7/2021. The interest is 6%, which is paid yearly on 1/7 from each year. Instructions: Record the required entries. The Euro exchange rate as follows: Date Exchange Rate 1/7/2019 0,82 31/12/2019 0,85 1/7/2020 0,80 31/12/2020 0,81 1/7/2021 0,83 On 1/7/2019, the ministry of planning borrowed 2000000 Euro in order to finance some of its projects. The loan will be repaid as one payment on 1/7/2021. The interest is 6%, which is paid yearly on 1/7 from each year. Instructions: Record the required entries. The Euro exchange rate as follows: Date Exchange Rate 1/7/2019 0,82 31/12/2019 0,85 1/7/2020 0,80 31/12/2020 0,81 1/7/2021 0,83

Answer rating: 100% (QA)

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