McEntire Inc. issues a $400,000, 10%, 10-year mortgage note on December 31. 2006. Prepare entries lor long-term
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McEntire Inc. issues a $400,000, 10%, 10-year mortgage note on December 31. 2006. Prepare entries lor long-term to obtain financing for a new building. The terms provide for semiannual installment payments uoies payable of $32,097. Prepare the entry to record the mortgage loan on December 31, 2006, and the first (SO ', installment payment.
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Related Book For 
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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