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Author Question: On January 1, Wonderland, Inc. signed a $260,000, 7%, 30-year mortgage that requires semiannual ... (Read 297 times)

asd123

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on: Feb 18, 2020
On January 1, Wonderland, Inc. signed a $260,000, 7%, 30-year mortgage that requires semiannual payments of $10,423 on June 30 and December 31 of each year. The journal entry to record the first semiannual payment would be (round interest calculation to the nearest dollar) to:
◦ debit Interest Expense, $9,100; debit Mortgage expense, $1,323; credit Cash, $10,423.
◦ debit Mortgage Payable, $10,423; credit Cash, $10,423.
◦ debit Interest Expense, $9,100; debit Mortgage Payable, $1,323; credit Cash, $10,423.
◦ debit Interest Expense, $1,323; debit Mortgage Payable, $9,100; credit Cash, $10,423.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by asd123 on Feb 18, 2020

kswal303

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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.
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Carlos Coronel

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Reply #2 on: Nov 15, 2021
thank you


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