Cullumber Inc. issues an $820,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financing for a new building. The terms provide for annual installment payments of $140,000. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Presented below are long-term liability items for Sheridan Company at December 31, 2022.

Bonds payable, due 2024		$700,000
Lease liability		70,000
Notes payable, due 2027		80,000
Discount on bonds payable		42,000

Prepare the long-term liabilities section of the balance sheet for Sheridan Company. (Enter account name only and do not provide descriptive information.)

Suppose the 2022 adidas financial statements contain the following selected data (in millions).

Current assets		$5,100		Cash		$840
Total assets		9,500		Interest expense		230
Current liabilities		3,500		Income taxes		180
Total liabilities		5,700		Net income		310

Compute the following values.

(a)	Debt to assets ratio. (Round to 0 decimal places, e.g. 60.)		enter percentages rounded to 0 decimal places	%
(b)	Times interest earned. (Round to 2 decimal places, e.g. 6.25.)		enter a number of times rounded to 2 decimal places	times