MONCHAN

MONCHAN is a Belgian firm that meets all legal requirements. The closing date of its accounting year is December 31st
.
Record all journal entries that result from the following information in the journal of MONCHAN for accounting years 20X1
and 20X5. The closing date of the accounting year is December 31st.
What balances related to the loan are to be found in the financial statements 20X2 of MONCHAN?
01/04/20X1 - C/A extract no. X1/012
MONCHAN obtains a loan of 50 000,00 EUR from its bank. The terms of the loan are as follows:
 duration of the loan = 10 years
 (re)payments have to be made each six months (i.e., on 30/09 and 31/03, respectively):
o 2 500,00 EUR of the loan
o interests (annual interest rate = 6,5%, interests are payable in arrear)