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Fringe Company borrowed $1,450,000 from Singleton Bank on January 1, 2021 in order to expand its mining capabilities. The note requires monthly payments of $28,790

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Fringe Company borrowed $1,450,000 from Singleton Bank on January 1, 2021 in order to expand its mining capabilities. The note requires monthly payments of $28,790 and carried an annual interest rate of 10%. Prepare the jounral entry to: a) Record the mortgage b) Record the first month installment payment

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