Question
On January 1, Bestway, Inc. signed a $175,000, *%, 30-year mortgage that requires semiannual payments of $7,735 on June 30 and December 31 of each
On January 1, Bestway, Inc. signed a $175,000, *%, 30-year mortgage that requires semiannual payments of $7,735 on June 30 and December 31 of each year. What is the journal entry to record the second semiannual payment (round interest calculation to the nearest dollar)?
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Investing In Mortgage Backed And Asset Backed Securities
Authors: Glenn M. Schultz, Frank J. Fabozzi
1st Edition
1118944003, 978-1118944004
