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Autumn Company purchased a building on January 2 by signing a long-term $630,000 mortgage with monthly payments of $5,400. The mortgage carries an interest rate

Autumn Company purchased a building on January 2 by signing a long-term $630,000 mortgage with monthly payments of

$5,400. The mortgage carries an interest rate of 10 percent.

what is the journal entry to record the first monthly payment ?

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