Part-B

Prepare all journal entries for Sheridan for the first two fiscal years ended June 30, 2023, and June 30, 2024. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, eg. 5,275.) Date Account Titles and Explanation Debit Credit July 1, 2022 June 30, 2023 June 30, 2024 Prepare an amortization schedule for the 5-year term of the mortgage, assuming the payment is a blended principal and interest payment of $26, 340. (Round answers to the nearest whole dollar, e.g. 5,275.) Cash Payment Interest Expense Reduction of Principal Principal Balance 108000 26340 $ 7560 $ 18780 89220 26340 6245 20095 69125 26340 4839 21501 47624 26340 3334 23006 24618 26340 24618 1722 151700 23700 100000 Sheridan borrowed has just approached a venture capitalist for financing for her new business venture, Sheridan Corporation, the development of a local ski hill. On July 1, 2022, Stacy borrowed $108,000 by signing a mortgage payable at an annual interest rate of 7%. The mortgage is repayable over 5 years in annual instalments, due each June 30. The first payment is due June 30, 2023 Sheridan's year-end