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Prepare the journal entries to record the Inception of the loan and the first two monthly payments. (Credit account titles are automatically indented when amount
Prepare the journal entries to record the Inception of the loan and the first two monthly payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts: Account Tities and Explanation Credit Debit 520000 520000 To record the inception of the mortgage) 6208 2167 8375 To record the first monthly payment) 6235 2140 8375 To record the second monthly payment) The last loan payment (payment 72), includes $8.340 in principal repayment. Prepare the journal entries to record the last payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit 8340 35 8375
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