Mar. 1, 2018 : Borrowed $ 245 comma 000 from Niceville Bank. The seven - year, 5 % note requires payments due annually, on March 1. Each payment consists of $ 35 comma 000 principal plus one year's interest.

Borrowed $ 245 comma 000$245,000 from NicevilleNiceville Bank. The sevenseven -year, 55 % note requires payments due annually, on MarchMarch 1. Each payment consists of $ 35 comma 000$35,000 principal plus one year's interest.
Dec.Dec. 1		Mortgaged the warehouse for $ 150 comma 000$150,000 cash with SageSage Bank. The mortgage requires monthly payments of $ 3 comma 000$3,000. The interest rate on the note is 99 % and accrues monthly. The first payment is due on January 1, 20192019.
31		Recorded interest accrued on the SageSage Bank note.
31		Recorded interest accrued on the NicevilleNiceville Bank note.
20192019
Jan.Jan. 1		Paid SageSage Bank monthly mortgage payment.
Feb.Feb. 1		Paid SageSage Bank monthly mortgage payment.
Mar.Mar. 1		Paid SageSage Bank monthly mortgage payment.
1		Paid first installment on note due to NicevilleNiceville Bank.

PrintDone