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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
General Journal
August
[ Select ]
[ Select ]
31.
[ Select ]
>
>
Transcribed Image 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. General Journal August [ Select ] [ Select ] 31. [ Select ] > >
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