On July $1,2023,$ Pharoah Ltd$.$ received a loan from its bank for $15,000$ bearing interest at $6\%.$ The loan is payable in two annual ninstalments of$8,182$ principal and interest on June $30$ each year. The company records adjusting journal entries annually at year end non December $31.$ n$($a$)$ nPrepare an instalment payment schedule for the term of the loan. $($Round answers to $0$ decimal places, e$.$g$.5,255.)$ nAnnual nInterest nPeriod nCash Payment nInterest Expense nReduction of Principal nPrincipal Bal nJuly $1,$ n$2023$ nJune n$30,$ n$2024$ nJune n$30,$ n$2025$ On July $1,2023,$ Pharoah Ltd$.$ received a loan from its bank for $ $15,000$ bearing interest at $6$ Oriole Retrilers Lttd$.$

Strtement of Financial Position

December $31$

Additional information ragarding $2024$ :

Natincome was $$67,000.$

Dapraciation expense was $$21,000.$

Peyments mads to the bank partaining to the bank loan were $$10,000.$ The company obtained some new bank laans during

theyaar.

Common shares were issuad during the yaar and the company did not buy back any sharas.

During the yzar, the company did not sall any furniture

$($a$)$ Prspare a statamant of cash flows using the indirsct mathod for $2024.($Show amounts that decrease cash flow with either $a-$ sign c$.$s$.$

$-15,000$ or in parenthesis $e.(15,000))$ Acjustments to raconcie nat income to

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$7$

$1$

$1$

$5$

$1$

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