Question
Ivanhoe Resort Corp. issued a 20-year, 7%, $230,000 mortgage note payable to finance the construction of a new building on December 31, 2021. The terms
Ivanhoe Resort Corp. issued a 20-year, 7%, $230,000 mortgage note payable to finance the construction of a new building on December 31, 2021. The terms provide for semi-annual instalment payments on June 30 and December 31.
Prepare the journal entries to record the mortgage note payable and the first two instalment payments assuming the payment is a blended payment of $10,770.
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Introduction To Industrial Energy Efficiency Energy Auditing Energy Management And Policy Issues
Authors: Patrik Thollander, Magnus Karlsson, Patrik Rohdin, Johan Wollin, Jakob Rosenqvist
1st Edition
0128172479, 978-0128172476
