Cheque Copy For mortgage payment; your company pays to the mortgage company, mortgage interest 779.16, loan reduction
Question:
Cheque Copy
For mortgage payment; your company pays to the mortgage company, mortgage interest 779.16, loan reduction 1000, total 1779.16.
What will be the accounts that are affected down below? Also what would be the recording in the general journal?
Chart of Accounts
101 Bank 105 Supplies - Golf Course 110 Suplies - Office 115 Property 120 Buildings 125 Automotive Equipment 130 Maintenance Equipment 201 Bank Loan 205 A/P - Blair's Automotive 210 A/P - Main Supply 215 A/P - Pro Equipment 220 HST Payable 225 HST Recoverable 230 Mortgage Payable 301 Shirley Ngakien, Capital 305 Shirley Ngakien, Drawings 401 Revenue - Golf 405 Revenue - Food 501 Automotive Expense 505 Bank Charges Expense 510 Maintenance Expense 515 Miscellaneous Expense 520 Mortgage Interest Expense 525 Telephone Expense 530 Utilities Expense 535 Wages Expense