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Author Question: On January 1, Clive Corporation signed a $480,000, 5%, 30-year mortgage that requires semiannual ... (Read 226 times)

Haya94

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on: Feb 18, 2020
On January 1, Clive Corporation signed a $480,000, 5%, 30-year mortgage that requires semiannual payments of $15,530 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, $11,912; debit Mortgage Payable, $3,618; credit Cash, $15,530.
◦ debit Mortgage Payable, $15,530; credit Cash, $15,530.
◦ debit Interest Expense, $11,912; debit Mortgage expense, $3,618; credit Cash, $15,530.
◦ debit Interest Expense, $3,618; debit Mortgage Payable, $11,912; credit Cash, $15,530.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by Haya94 on Feb 18, 2020

zogaridan

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Reply #1 on: Feb 18, 2020
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Courtney Holguin

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Reply #2 on: Apr 29, 2020
Thank you!


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