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Orbit Corp. issued a $400,000, 10 percent mortgage on January 1, 2018, to purchase warehouses. Read the requirements. Requirement 1. Complete the amortization schedule for

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Orbit Corp. issued a $400,000, 10 percent mortgage on January 1, 2018, to purchase warehouses. Read the requirements. Requirement 1. Complete the amortization schedule for Orbit Corp., assuming payments are made semiannually. (Round amounts to the nearest dollar) Date Payment Interest Principal Loan Balance 400,000 $ Jan 1, 2018 Jun 30, 2018 Dec 31, 2018 $ 26.021 Jun 30, 2019 Dec 31, 2019 Choose from any list or enter any number in the input fields and then continue to the next question Orbit Corp. issued a $400,000, 10 percent mortgage on January 1, 2018, to purchase warehouses Read the requirements Jun 30, 2020 Requirement 2. Record the journal entries for (a) issuance of mortgage on January 1, 2018, and (b) the first semiannual payment on June 30, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Record the journal entry for the issuance of mortgage on January 1, 2018, Journal Entry Date Accounts Debit Credit Jan 1 Choose from any list or enter any number in the input fields and then continue to the next question 2 Orbit Corp. issued a $400,000, 10 percent mortgage on January 1, 2018, to purchase warehouses. Read the requirements. Journal Entry Date Accounts Debit Credit Jan 1 b. Record the journal entry for the the first semiannual payment on June 30, 2018. Choose from any list or enter any number in the input fields and then continue to the next question. Orbit Corp. issued a $400,000, 10 percent mortgage on January 1, 2018, to purchase warehouses. Read the requirements b. Record the journal entry for the the first semiannual payment on June 30, 2018. Journal Entry Accounts Date Debit Credit Jun 30 Choose from any list or enter any number in the input fields and then continue to the next question. i Requirements of e near 1. Complete the amortization schedule for Orbit Corp., assuming payments are made semiannually. Round amounts to the nearest dollar. 2. Record the journal entries for (a) issuance of mortgage on January 1, 2018, and (b) the first semiannual payment on June 30, 2018. 2 Print Done

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