Question
/1 !!! View Policies Current Attempt in Progress Meche Inc. signs a 10-year, 4%, $330,000 mortgage payable on November 30, 2017, to obtain financing for
/1 !!! View Policies Current Attempt in Progress Meche Inc. signs a 10-year, 4%, $330,000 mortgage payable on November 30, 2017, to obtain financing for a new equipment. The terms provide for payments at the end of each month. Prepare the entries to record the mortgage on November 30, 2017, and the first two payments on December 31, 2017, and January 31, 2018, assuming the payment is (a) a foxed principal payment of $2,750, plus interest, and (b) a blended principal and interest payment of $3.341. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, eg. 5,275)
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