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2. Morrison Inc. purchased a building and issued a $280,000, 8%, mortgage on January 1, 2019. Payments of $12,377 are made semiannually on June 30

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2. Morrison Inc. purchased a building and issued a $280,000, 8%, mortgage on January 1, 2019. Payments of $12,377 are made semiannually on June 30 and December 31 each year. What is the journal entry on January 1, 2019? a. b. What is the journal entry to record the first semiannual payment on June 30, 2019? C What is the journal entry to record the second semiannual payment on December 31, 2019

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