The business borrowed a 3-year 10% long term loan for TL 15.000 on October 1, 2014. The business makes the principal repayments to the bank in 3 equal installments and interest payments annually. Which entry is made on Dec 31, 2014 to record the current portion of the loan that will be due within 1 year? a. TL375 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan b. TL15.000 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan c. TL1.125 debit to 400-B. Loan and credit to 303 P&L Payment of L-T Loan d. TL5.000 debit to 400-B. Loan and credit to 303 P&L Payment of L-T

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A:

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