Question
Starlight Graphics Ltd. signed a 10-year, 6.6%, $748,480 mortgage on June 30, 2017, to help finance a new research laboratory. The mortgage terms provide for
Starlight Graphics Ltd. signed a 10-year, 6.6%, $748,480 mortgage on June 30, 2017, to help finance a new research laboratory. The mortgage terms provide for semi-annual blended principal and interest payments of $51,715. Payments are due on December 31 and June 30. The companys year end is June 30.
1. an instalment payment schedule for the first two years. (Round answers to the nearest whole dollar, e.g. 5,275.)
2. the receipt of the mortgage loan on June 30, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
3. the first two instalment payments, on December 31, 2017, and June 30, 2018. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
4. the statement of financial position presentation of the mortgage payable at June 30, 2018.
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