We bought an office in Barcelona for €500,000. We agreed to pay four €150,000 in...
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We bought an office in Barcelona for €500,000. We agreed to pay four €150,000 instalments. The table of amortised cost is shown below. If we record accruals in a monthly basis, what should we have posted on 04/30/2024? (dates format: month/day/year)
Date (month/day/year) | Interest | Payment | Amortised Principal | Amortised Cost |
04/30/2024 |
|
|
| 500,000.00 |
04/30/2025 | 38,570.00 | 150,000.00 | 111,430.00 | 388,570.00 |
04/30/2026 | 29,973.00 | 150,000.00 | 120,027.00 | 268,543.00 |
04/30/2027 | 20,715.00 | 150,000.00 | 129,285.00 | 139,258.00 |
04/30/2028 | 10,742.00 | 150,000.00 | 139,258.00 | - |
Total | 100,000.00 | 600,000.00 | 500,000.00 | - |
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