Q3 Part (A) Yusuf Inc. issues an $800,000, 10%, 10-year mortgage note on December 31, 2018, to obtain financing for a new building. The terms provide for semiannual installment payments of $64,194. Instructions 1- Prepare the entry to record the mortgage loan on December 31, 2018, and the first installment payment. 2- Explain the concept behind mortagage notes? Solution (1) - mortgage loan entry Accounts Debit Credit Solution (2) Explain the concept behind mortagage notes Solution (1) - first installment payment entry Debit Accounts Credit Part (B) What would the entry to record the issuance of two thousand bonds with a face value of $1,000 each and are sold at 103. Solution Part (B) - issuance of bonds entry Debit Accounts Credit