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Posted on Aug 08, 2024

Gobbler Inc. issues a $ 7 0 0 , 0 0 0 , 6 % , 1 0 year mortgage note on December 3 1

Gobbler Inc. issues a $

700, 000, 6 %, 10

year mortgage note on December

31, 2023

to obtain financing for a new building. The terms provide for semiannual installment payments of $

47, 051 .

Prepare the entry to record the mortgage loan on December

31, 2023

and the first installment payment paid on

6 - 30 - 24 .

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