Payment on mortgage payable

More Info wicked Wild Company plans to raise the capital by issuing $1,000,000 of 6%, five-year bonds on January 2, 2020. The bonds pay interest semiannually on June 30 and December 31. The company receives $998,800 when the bonds are issued. The company also issues a mortgage payable for $750,000 on January 2, 2020. The proceeds from the mortgage will be used to construct the new building. The mortgage requires annual payments of $50,000 i plus interest for fifteen years, payable on December 31 . The mortgage interest rate is 7%. Print Done d. Payment on the mortgage payable for 2020. Date 2020 Dec. 31 Accounts Debit Credit