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Posted on Sep 10, 2024

Carla Vista Company borrowed $ 8 1 0 , 0 0 0 on December 3 1 , 2 0 1 9 , by issuing an

Carla Vista Company borrowed $

810, 000

on December

31, 2019,

by issuing an $

810, 000, 9 %

mortgage note payable. The terms call for annual installment payments of $

126, 214

on December

31 .

Prepare the journal entries to record the mortgage loan and the first two installment payments.

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