This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On January 1, Cheshire Co. signed a $220,000, 7%, 30-year mortgage that requires semiannual payments ... (Read 253 times)

DelorasTo

  • Hero Member
  • *****
  • Posts: 548
on: Feb 18, 2020
On January 1, Cheshire Co. signed a $220,000, 7%, 30-year mortgage that requires semiannual payments of $8,819 on June 30 and December 31 of each year. The journal entry to record the second semiannual payment would be: (Round your final answer to the nearest dollar.)
◦ debit Interest Expense, $7,661; debit Mortgage Payable, $1,158; credit Cash, $8,819.
◦ debit Interest Expense, $7,661; debit Mortgage expense, $1,158; credit Cash, $8,819.
◦ debit Mortgage Payable, $8,819; credit Cash, $8,819.
◦ debit Interest Expense, $1,158; debit Mortgage Payable,$7,661; credit Cash, $8,819.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by DelorasTo on Feb 18, 2020

akpaschal

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 59% of students answer this correctly


Amber Euse

  • Newbie
  • *
  • Posts: 2
Reply #2 on: Apr 20, 2020
Thank


« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Infant: 4 weeks to 1 year. Infant: 4 weeks to 1 year.
Two lymphocytes that are reactive in a 19-year-old college student with infectious mononucleosis. ... Two lymphocytes that are reactive in a 19-year-old college student with infectious mononucleosis. ...
Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ... Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ...
An example of the key features of pesticide labels. The EPA requires the inclusion of specific ... An example of the key features of pesticide labels. The EPA requires the inclusion of specific ...
Use a graphical method to find the length of the loan to the nearest year Use a graphical method to find the length of the loan to the nearest year
Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ... Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ...
Video: Metaphase I Animation

For a complete list of videos, visit our video library