skip if you already did this otherwise downvoteplease do original work and step by step for upvote Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P= P5,000 begin-ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly.PP++12/14 1/14 2/14 3/14 4/14P P P+7/14 8/14 9/14P P P12/14 1/14 2/14 3/145/14(1) How much is did Dora borrowed today?(2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Kenand Barbie waives penalties due to payment default and allowed her to settle all amount dues plusinterest on May 14, 2024. How much is the total amount due that she should settle with Barney?(3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in totalis she allowed pay on that day to discharge the entire loan?(4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining paymentsdue after this 9/14 payment?(5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P60,000 from Kenand Barbie on Dec. 14, 2022?

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Answered: Barbie and Ken agrees to lend Dora…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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