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E9-20A. Accounting for mortgages (Learning Objective 5) 10-15 min. Solar Corp. issued a $460,000,8 percent mortgage on January 1, 2018, to purchase warehouses. Requirements 1.
E9-20A. Accounting for mortgages (Learning Objective 5) 10-15 min. Solar Corp. issued a $460,000,8 percent mortgage on January 1, 2018, to purchase warehouses. Requirements 1. Complete the amortization schedule for Solar Corp., assuming payments are made semiannually. Round amounts to the nearest dollar. 2. Record the journal entries for (a) issuance of the mortgage on January 1,2018 , and (b) the first semiannual payment on June 30, 2018
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