Gary purchased a new piece of equipment to be used in its new facility. The $$420,000$ piece of equipment was purchased with a $$63,000$ down payment and with cash received through the issuance of a $$357,000,7\%,5-$year mortgage payable issued on January $1,2022.$ The terms provide for annual installment payments of $$87,069$ on December $31.$

$($a$)$

$($b$).$

$($c$)$

Your answer is partially correct.

Show the balance sheet presentation for this obligation for December $31,2022.($Hint: Be sure to distinguish between the current and long$-$term portions of the note.$)($Round answers to $0$ decimal places, e$-8.125.)$

Mortgage Payable

Mortgage Payable

December $31,2022$

GARY

Balance Sheet $($Partial$)$

$7$ Your answer is partially correct. Show the balance sheet presentation for this obligation for December $31,2022.$ and long$-$term portions of the note.$)($Round answers to $0$ decimal places, es$.125.)$

Mortgage Payable

$

eTextbook and Media

List of Accounts

Attempts: $2$ of $10$ used

Using multiple attempts will impact your score.