What are the forms and characteristics of hedge accounting Bank B granted on 1.10.20X1 to...
80.2K
Verified Solution
Link Copied!
Question
Accounting
What are the forms and characteristics of hedge accounting Bank B granted on 1.10.20X1 to company D a loan of 200,000 for 10 years with a fixed interest rate of 3%. The loan will be serviced with equal semi-annual installments plus interest that will be paid every 31/3 and 30/09 of each year, while bank B prepares interim financial statements. Wanted: Make the journal entries for the years 20X1-20X2 for company B (for calculations use a period of 90 days for each quarter and 360 days for the year)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
