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please answer all parts! Joseph purchased a new plece of equipment to be used in its new facility. The S 445,000 piece of equipment was
please answer all parts!
Joseph purchased a new plece of equipment to be used in its new facility. The S 445,000 piece of equipment was purchased with a $ 44.500 down payment and with cash received through the issuance of a $ 400,500, 6%, 5-year mortgage payable Issued on January 1.2022. The terms provide for annual installment payments of $ 95,077 on December 31. Your answer is partially correct Prepare an installment payments schedule for the first five payments of the notes payable. (Round answers to O decimal places, es. 125) Cash Payment Interest Expense Reduction of Principal Principal Balance 31 77923 22365 55558 26 77923 18476 59447 20 00! 77923 IMAOM DOBNE 14315 63608 14 77923 9862 68051 77923 5097 72826 Your answer is partially correct. Prepare the journal entry related to the notes payable for December 31, 2022. (Round answers to decimal places, eg. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Dec. Interest Expense Debit Credit 31 22365 Mortgage Payable 55558 Cash 77923 eTextbook and Media List of Accounts Your answer is partially correct. Show the balance sheet presentation for this obligation for December 31, 2022. (Hint: Be sure to distinguish between the current and long-term portions of the note) (Round answers to decimal places, es, 125) JOSEPH Balance Sheet (Partial) December 31, 2022 Current Liabilities Mortgage Payable 59447 Lont-term Liabilities I DO Mortage Payable 204495 Totallisbilities 203042 Step by Step Solution
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