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I just want the red mark answered correctly. Thank you Exercise 15-9 Your answer is partially correct. Try again. Jernigan Co, receives $280,00 when it
I just want the red mark answered correctly. Thank you Exercise 15-9 Your answer is partially correct. Try again. Jernigan Co, receives $280,00 when it issues a $289,800, 13%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $48,300 on December 31. Prepare the journal entries to record the mortgage loan and the first two payments. (Round answers to decimal places, e.g. 15,250. Credit account tites are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debut Credit Dec 31, 2017 Cash 289,800 Notes Payable 289,800 Dec 31, 2018 Notes Payable 10,626 Interest Expense 37,674 Cash 48,300 Dec 31, 2019 Notes Payable 12,007 Interest Expense 36,293 43,300 Cash
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