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please answer all 4 parts if able. Homework: Chapter G:12 Homework Question 1, EF12-19 (similar to) Part 1 of 4 HW Score: 86.38%, 5.18 of
please answer all 4 parts if able.
Homework: Chapter G:12 Homework Question 1, EF12-19 (similar to) Part 1 of 4 HW Score: 86.38%, 5.18 of 6 points Points: 0.28 of 1 Save Kanta Company purchased a building and land with a fair market value of $550,000 (building, $350,000 and land, $200,000) on January 1, 2024. Kanta signed a 20-year. 6% mortgage payable. Kanta will make monthly payments of $3.940.37. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Requirement 1. Journalize the mortgage payable issuance on January 1, 2024. (Record debits first, then credits. Exclude explanations from any joumal entries.) Date Accounts Debit Credit X 2024 Requirements Jan. 1 1. Journalize the mortgage payable issuance on January 1, 2024. 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2024. 4. Journalize the second payment on February 28, 2024. Print DoneStep by Step Solution
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