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Problem 9-1B Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2021, Stoops Entertainment purchases a
Problem 9-1B Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2021, Stoops Entertainment purchases a building for $530,000, paying $100,000 down and borrowing the remaining $430,000, signing a 7%, 15 year mortgage. Installment payments of $3,864.96 are due at the end of each month, with the first payment due on January 31, 2021. Required: 1. Record the purchase of the building on January 1, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 Record the purchase of the building. Note: Enter debits before credits
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