A company purchased equipment on July 1,2020 and signed a 8 year mortgage note for $105,000 at 5% interest. The note will be paid in equal installments beginning July 1, 2021. On July 1, 2021, the journal entry to record the first installment payment will include a credit to cash $105,000 credit to mortgage payabe for $21,243 debit to interest expense for $657 debit to interest expense for $5,250 The cost of the product in manufacturing businesses consists of which of the following costs? advertising, direct labor and maintenance direct material and cost of the factory factory overhead and selling expenses factory overhead, direct labor, and direct material In cost-volume-profit analysis, all costs are classified into the following two categories: high and low variable cost and mixed cost sunk and hidden fixed cost and variable cost