Adjusting entry: On 1 February 2021, Design Thinking Pty Ltd obtained a three year bank loan of $90,000 at an annual interest rate of 3.5% p.a. Instructions: Record the adjusting entry for the year...


Adjusting entry: On 1 February 2021, Design Thinking Pty Ltd obtained a<br>three year bank loan of $90,000 at an annual interest rate of 3.5% p.a.<br>Instructions: Record the adjusting entry for the year ending 31 August<br>2021 by selecting the correct accounts and amounts that are debited and<br>credited.<br>

Extracted text: Adjusting entry: On 1 February 2021, Design Thinking Pty Ltd obtained a three year bank loan of $90,000 at an annual interest rate of 3.5% p.a. Instructions: Record the adjusting entry for the year ending 31 August 2021 by selecting the correct accounts and amounts that are debited and credited.

Jun 09, 2022
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