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Problem 6 Mortgage B. Corp. purchased a building for $80,000 by signing a mortgage for $60,000 and paying $20,000 cash. The mortgage is 8% with
Problem 6 Mortgage B. Corp. purchased a building for $80,000 by signing a mortgage for $60,000 and paying $20,000 cash. The mortgage is 8% with monthly payments of $450. A Prepare the journal entry for the purchase on Jan. 1 B Prepare the journal entries for the first two monthly payments
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