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Ahlia Company issued a $2,500,000, 10%, 10-year mortgage note payable to finance the construction of a building at December 31, 2010. The terms provide for

Ahlia Company issued a $2,500,000, 10%, 10-year mortgage note payable to finance the construction of a building at December 31, 2010. The terms provide for semiannual installment payments of $200,608. Instructions Prepare the entry to record: (a) the mortgage loan on December 31, 2010. (b) the first installment payment.

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