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On October 31, 2016, Jornd Company incurs a 30-year $800,000 mortgage liability in conjunction with the purchase of a motel. This mortgage is payable in

On October 31, 2016, Jornd Company incurs a 30-year $800,000 mortgage liability in conjunction with the purchase of a motel. This mortgage is payable in equal monthly installments of $8,228, which include interest computed at an annual rate of 12%. The first monthly payment is made on November 30, 2016. This mortgage is fully amortizing over 360 months. Jornd Company's Balance Sheet at December 31, 2016, includes a total liability for this mortgage of: SHOW YOUR WORK! Round to the nearest penny

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