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Question no. 7 WinAmp Corporation issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab. The terms call for semiannual

Question no. 7

WinAmp Corporation issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab. The terms call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the third installment payment.

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