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On December 1, 2020, A Co. signed a 15-month, P69,325 mortgage note payable to X Bank in conjunction with the purchase of Equipment. The mortgage calls for a 1.0 % interest per month. The note is fully amortized over 15 months. The monthly payments amount to P5,000. Question 1 8 pts What is the Journal entry on the date of issuance: Use the following accounts: Notes Payable Cash Discount on Notes Payable Premium on Notes Payable Interest Payable Equipment Interest Expense December 1, 2020, Journal Entry Accounts Debited Accounts Credited Dr Cr Question 1 8 pts What is the Journal entry on the date of issuance: Use the following accounts: Notes Payable Discount on Notes Payable Cash Premium on Notes Payable Equipment Interest Payable Interest Expense December 1, 2020, Journal Entry Accounts Debited Accounts Credited Dr Cr D Question 2 8 pts What is the Journal entry on December 31: Use the following accounts: Notes Payable Cash Discount on Notes Payable Premium on Notes Payable Interest Payable Equipment Interest Expense December 31, 2020, Journal Entry Accounts Debited Accounts Credited Dr Cr D Question 3 2 pts Compute for the current portion of the Notes Payable as of December 31, 2020, D Question 4 2 pts Compute for the Non-Current portion of the Notes Payable as of December 31, 2020. Question 5 2 pts Compute for the total cost of Borrowing Quiz Instructions Round off your answer to the whole number. For journal entries, make sure that you will use the chart of accounts provided. Insert O for the not need account and amounts On December 1, 2020, A Co. signed a 15-month, P69.325 mortgage note payable to X Bank in conjunction with the purchase of Equipment. The mortgage calls for a 1.0 % interest per month The note is fully amortized over 15 months. The monthly payments amount to P5,000. ons