Question: On April 1 , 2 0 2 4 , Dalton Inc. loans $ 8 3 comma 0 0 0 to its principal shareholder, Milo Dalton

On April1,2024, Dalton Inc. loans $ 83 comma 000 to its principal shareholder, Milo Dalton, in order to finance personal expenditures. Donner Inc. has a June 30 taxation year-end. The loan is interest free. Assume that throughout the time that the loan is outstanding the relevant prescribed interest rate is 5%.

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