On (1/10/2018) the ministry of planning borrowed 110,000 to finance one of its projects. The...

  

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On (1/10/2018) the ministry of planning borrowed £ 110,000 to finance one of its projects. The loan will be repaid as one payment on (1/10/2020) while the Date 1/10/2018 31/12/2018 30/6/2019 1/10/2019 31/12/2019 30/6/2020 1/10/2020 Exchange Rate 1.12 1.08 1.13 1.16 1.20 1.11 1.16 Instructions: Ater recording the required entries, answer the following questions 1- The accrued interest is presented in the financial postion statement for the year of 2018 with the value of 2- The loan is presented in the financial position statement for the year of 2018 wth the value of 3- The total amount of interest that ins paid on 1/10/2019 is 4- The gain of currency dfferences for the year of 2020 are: 4- The total amount that is repaid on the due date (1/10/2020) : 6- The loan is preserted in the francial poskion statemert at the end of 2020 with the valun of On (1/10/2018) the ministry of planning borrowed £ 110,000 to finance one of its projects. The loan will be repaid as one payment on (1/10/2020) while the Date 1/10/2018 31/12/2018 30/6/2019 1/10/2019 31/12/2019 30/6/2020 1/10/2020 Exchange Rate 1.12 1.08 1.13 1.16 1.20 1.11 1.16 Instructions: Ater recording the required entries, answer the following questions 1- The accrued interest is presented in the financial postion statement for the year of 2018 with the value of 2- The loan is presented in the financial position statement for the year of 2018 wth the value of 3- The total amount of interest that ins paid on 1/10/2019 is 4- The gain of currency dfferences for the year of 2020 are: 4- The total amount that is repaid on the due date (1/10/2020) : 6- The loan is preserted in the francial poskion statemert at the end of 2020 with the valun of

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Initial journal entry CashBank ac dr 110000 112 123200 To Foreign currency loan ac 123200 1 The accr... View the full answer