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im stuck on how to calculate the mortage payable Riley Company issued a $200,000, 10%, 10 year mortgage note payable to finance the construction of

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Riley Company issued a $200,000, 10%, 10 year mortgage note payable to finance the construction of a building. The terms of the note provide for semi-annual installment payments of $16,050. on June 30 and December 31 of each year. Prepare the journal entries to record: the mortage loan on January the first installment payment on June 30 the second installment payment on Decembe Credit Account Title cash mortgage payable Debit 200,000 200,000 10.000 interest expense mortgage payable cash interest expense mortgage payable cash

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