Current location - Trademark Inquiry Complete Network - Futures platform - Borrow a 2-year futures payment of 1,200,000 from the bank, with an annual profit of 6%. The company will pay quarterly and write down the relevant entries.
Borrow a 2-year futures payment of 1,200,000 from the bank, with an annual profit of 6%. The company will pay quarterly and write down the relevant entries.

Loan entry:

Debit: bank deposit 1,200,000

Loan: short-term loan 1,200,000

Quarterly interest amount = 1,200,000 *6%*1/4=18000

Debit: financial expenses 18,000

Loan: bank deposit 18,000

Entry for repayment of loan when due

Borrow: short-term loan 1,200,000

Loan: bank deposit 1,200,000

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