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A $5000 loan is to be amortised with 8 equal, semi-annual payments. If interest is...

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Accounting

A $5000 loan is to be amortised with 8 equal, semi-annual payments. If interest is at jz = 9%p.a.

(a) Construct the Loan amortization table for the first 5 periods

. (b) Write the necessary journal entries for period 2 only.

( c) Proved that the Balance Sheet value at the end of year 1 is $3909.91 using the retrospective method.

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