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Interactive Computer Company signed a 10-year, 6.6%, $728,280 mortgage on June 30, 2017, to help finance a new repair center. The mortgage terms provide for
Interactive Computer Company signed a 10-year, 6.6%, $728,280 mortgage on June 30, 2017, to help finance a new repair center. The mortgage terms provide for semi-annual blended principal and interest payments of $50,320. Payments are due on December 31 and June 30. The company's year end is June 30. (a) Your answer has been saved and sent for grading. See Gradebook for score details. Prepare an instalment payment schedule for the first two years. (Round answers to the nearest whole dollar, e.g. 5,275.) Semi-annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance June 30, 2017 728280 Dec. 31, 2017 50320 24033 26287 701993 $ $ $ June 30, 2018 50320 23166 27154 674839 Dec. 31, 2018 50320 22270 28050 646789 June 30, 2019 50320 21344 28976 617813 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts: 1 of 1 used (b) Record the receipt of the mortgage loan on June 30, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30
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