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Save ( Click the icon to view the transactions. ) Read the requirements More info Mar. 1 , 2 0 2 4 Dec. 1 ,

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Mar. 1,2024
Dec. 1,2024
Dec. 31,2024 Recorded interest accrued on the Nelson Bank note
\table[[Date,Accounts,Debit,Credit],[2024,,,],[Dec.31,\table[[Interest Expense],[Interest Payable]],52,500,52,500]]
Jan 1,2025 Paid Sammon Bank monthly mortgage payment.
Borrowed $450,000 from Nelson Bank. The 15-year, 14% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Mortgaged the warehouse for $550,000 cash with Sammon Bank. The mortgage requires monthly payments of $7,000. The interest rate on the note is 10% and accrues monthly. The first payment is due on January 1,2025
Recorded interest accrued on the Sammon Bank note.
Recorded interest accrued on the Nelson Bank note
Paid Sammon Bank monthly mortgage payment.
Paid Sammon Bank monthly mortgage payment
Paid Sammon Bank monthly mortgage payment.
Paid first installment on note due to Nelson Bank
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Dec. 31,2024
Dec. 31,2024
Jan. 1,2025
Feb. 1,2025
Mar. 1,2025
Mar. 1,2025
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