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In: AccountingProblemOne: On 1 Oct2017, WeezLtd entered into amortgage loan. The amount borrowed...ProblemOne: On 1 Oct2017, WeezLtd entered into amortgage loan. The amount borrowed was $458,800 at 12% per annum,with $40,000--part interest, part principal--repayable every sixmonths for ten years, beginning with the payment due 1 April 2018.The company has an annual accounting period ending 28February.Required:(1)Without narration,prepare a) the AJE on 28 Feb 2018, b) the journal entry for the$40,000 payment on 1 April 1, 2018, and c) the journal entry forthe second $40,000 payment on1 October2018. Round to twodecimal places.(2)Prepare the liabilitysection of the balance sheet as at 28 February2018.(3)What is the totalinterest expense to be recognised over the ten year term of theloan?