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Dec. 1, 2024: Mortgaged the warehouse for $550,000 cash with Southside Bank. The mortgage requires monthly payments of $7,000. The interest rate onthe note is

Dec. 1, 2024: Mortgaged the warehouse for $550,000 cash with Southside Bank. The mortgage requires monthly payments of $7,000. The interest rate onthe note is 3% and accrues monthly. The first payment is due on January 1, 2025.DateAccountsDebitCredit2024Dec. 1

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