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Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased with a $173.000 cash down payment and through the

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Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased with a $173.000 cash down payment and through the issue of a $714,000, 5-year, 6% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $13.804 starting on October 31. Record the first two instalment payments on October 31 and November 30 assuming that the terms provided for monthly fixed principal payments of $11.900, rather than blended payments of $13,804. (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 o decimal places, eg. 5,275.) Debit Credit Date Account Titles and Explanation Oct. 31, 2021 Interest Expense Mortgage Note Payable Cash (To record payment on note.) Nov. 30, 2021 Interest Expense 1190d Mortgage Note Payable Cash (To record payment on note.)

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