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could you help me solve the document problem,please? thank you so much. Exercise 10-24 Cullumber Company receives $385,000when it issues a $385,000,8%, mortgage note payable

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could you help me solve the document problem,please? thank you so much.

image text in transcribed Exercise 10-24 Cullumber Company receives $385,000when it issues a $385,000,8%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $44,979on December 31. Prepare the schedule using effective-interest method to amortize bond premium or discount of Cullumber Company.(Round answers to 0 decimal places, e.g. 5,275.) Annual Interest Period Cash Payment Interest Expens e $ $ Issue date Reduction of Principal Principa l Balance $ $ 12/31/18 12/31/19 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the mortgage loan.(Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debi Credi t t Dec. 31, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record the first two installment payments.(Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debi Credi t t First Installment Payment Dec. 31, 2018 Second Installment Payment Dec. 31, 2019

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