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Analyzing and Reporting Financial Statement Effects of Mortgages On January 1, Patterson Inc borrowed 11,500,000 on a 10%, 15 year mortgage note payable. The note
Analyzing and Reporting Financial Statement Effects of Mortgages On January 1, Patterson Inc borrowed 11,500,000 on a 10%, 15 year mortgage note payable. The note is to be repaid in qualsemiannual instaliments of $97,577 payable on June 30 and December 311. Each mortgage payment includes principal and interest, Interest is computed using the effective interest method. Indicate the financial statement effects using the template for an issuance of the mortgage note payable.ct) payment of the first instaliment on June 30, and payment of the second installment on December 31 Note: For each account category, indicate the appropriate account name. Enter for any count Category that is not used for a gyen transaction Note:Indicate a decrease in an account category by including a negative sign with the amount Note: Round your answers to the nearest whole dollar Balance Sheet Liabilities ransaction Cash Asset Income Statement Expenses Necesh Assets Contrib. Capital Earned Capital Revenues - Net Income 0 . 0 o . . $ 0 . 0- . 0 . Check Analyzing and Reporting Financial Statement Effects or Mortgages On january 1, Patterson Inc, borrowed 51.500.000 a 10% 1.ygar mortgage note payable. The notes to be repaid in equal semiannual installments of $97.577 payable on June 30 and December 31. Each mortgage payment includes principal and interest Interest is computed using the effective interest method. Indicate the financial statement effects using the template for day issuance of the mortgage note payable, (o) payment of the first installment on June 30, and payment of the second installment on December 31 Note. For each account category, indicate the appropriate account name. Enter "Na for any account category that is not used for a gwen transaction Note Indicate a decrease in an account Category by including a negative sign with the amount Note: Round your answers to the nearest whole dollar ansaction Cash Asset Noncash Assets Balance Sheet Labrities Contrib. Capital Earned Caglia Income statement Expenses Net Income 0 0 Chec
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