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Oriole Resort Corp. issued a 20-year, 8%, $220,000 mortgage note payable to finance the construction of a new building on December 31 2024. The
Oriole Resort Corp. issued a 20-year, 8%, $220,000 mortgage note payable to finance the construction of a new building on December 31 2024. The terms provide for semi-annual instalment payments on June 30 and December 31 (a) Prepare the journal entries to record the mortgages fixed principal payment of $5,500. (Round arowers to account titles are automatically indented when the a payable and the first two instalment payments assuming the payment is a decimal places.eg 5.276 List all debit entries before credit entries. Credit Do not indent manually. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts. Recond journal entries in the ordf presented in the problem Account Titles Debit S (b) Date Issue of Note First Instalment Payment Second Instalment Payment List of Accounts Save for Late Attempts: 0 of 1 used Submit Answer
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