National Bank granted a loan to a borrower on January 1, 2009. The interest of the loan is 10% payable annually starting December 31, 2009. The loan matures in 3 years on December 31, 2011. Data related to the loan are:
       Principal     ................................................P 4,000,000.00
      Origination fees charged against
      the borrower ..............................................       342,100.00
      Direct Origination Cost earned .................       150,000.00


     After considering the origination fees charged against the borrower and the direct originates costs earned, the effective rate on the loan is 12%.

REQUIRED:   Prepare all the indicated entries for 2009, 2010 and 2011.

[asus sa daming2 table na nagawa ko sa buhay ko itong problem na ito ang nabaliktad kong naggawa.....exam panaman ito...di ko like ang part na ito,,,,BAWI NALANG AKO SA MIDTERM]

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