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QUESTION 4 On January 1, Year 1, Sew What, Inc., signed a $1,000,000, 7%, 10-year mortgage note to buy a new warehouse. The note

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QUESTION 4 On January 1, Year 1, Sew What, Inc., signed a $1,000,000, 7%, 10-year mortgage note to buy a new warehouse. The note will be repaid in 10 equal annual installments of $142,378 beginning on December 31, Year 1. Record the amounts in the Notes Payable T-account below for the year ended December 31, Year 1, given this information: Notes Payable Do not include $ signs in your answers. Use the first row to record the issuance of the note and put 0 on the opposite side. Use the second row to record the installment payment and put 0 on the opposite side. Use the last row to record the ending balance and put 0 on the opposite side.

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