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Crane Co . issues a $ 4 9 2 , 0 0 0 , 2 5 - year, 3 % note payable on April 3
Crane Co issues a $year, note payable on April for cash. The terms provide for monthly instalment payments. b Prepare the journal entries to record the mortgage loan on April and the first two payments on May and June assuming the payment is a blended payment of $List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg Record journal entries in the order presented in the problem. Date Account Titles Debit
Crane Co issues a $year, note payable on April for cash. The terms provide for
monthly instalment payments.
b
Prepare the journal entries to record the mortgage loan on April and the first two payments on
May and June assuming the payment is a blended payment of $List all debit
entries before credit entries. Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select No Entry" for the account titles
and enter for the amounts. Round answers to decimal places, eg Record journal
entries in the order presented in the problem.
Date
Account Titles
Debit
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