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Part (A) Yusuf Inc issues an 5800,000, 109, 10 year mortgage note on December 31, 2018 to obtain financing for a new building. The terms
Part (A) Yusuf Inc issues an 5800,000, 109, 10 year mortgage note on December 31, 2018 to obtain financing for a new building. The terms provide for semanas installment payments of 561.154 Instructions 1- Prepare the entry to record the mortgage loan on December 31, 2018. and the first installment payment 2 Explain the concept behind more potes? Solution (1) mortgage loan estry Accounts Debat Credit Solution (2) Explain the concept behind mertagage notes Solution (1) first installment payment entry Debit Accounts Credit Part (B) What would the entry to record the issuance of thousand bonds with a face value of $1,000 each and are sold at 103
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