CH 7 Exercise (B) .. 12 Ex 1. A company borrowed $100 from a bank on 12/1, annual interest rate is 12%. The company need to repay the loan within a year. Please do the entry on 12/1 and accrued interest expense on 12/31 for the company Ex2. A company borrowed $1,000 form a bank. It is a long-term loan of five years from 1/1/2001 to 12/31/2005, which needs to be converted to a current liability at the end of 2004. Please do the reclassification entry on 12/31/2004. Ex3. A subscriber (customers) ordered a magazine and paid in advance for subscription. The subscriber paid 120 for one year on 7/1/2023. Please do the entries for the publisher on 7/1/2023 and 12/31/2023. Ex4. An applicant buy an accident insurance with coverage period of a year and paid $24C on 8/1/2020. Please do the entries for the insurance company on 8/1/2020 and 12/31/2020. Ex5. real estate tax bills $1,100 for 2022 are not issued until April of the following year an are payable in May. Thus, do an entry for accrued property tax on 12/31/2022 and 5/31/2023.