Suppose that Sandhill purchased a building on January 2 by signing a long-term $3898000 mortgage with monthly payments of $35700. The mortgage carries an interest rate of 8%. The transaction to record the mortgage will include an increase to Interest Expense for $3898000. an increase to Mortgage Payable for $3898000. O an increase to Mortgage Payable for $3898000 plus total interest over the term of the mortgage. O a decrease to Cash for $3898000.

Suppose that Sandhill purchased a building on January 2 by signing a long-term $3898000 mortgage with monthly payments of $35700. The mortgage carries an interest rate of 8%. The transaction to record the morteage will include an increase to Interest Expense for $3898000. an increase to Mortgage Payable for $3898000. an increase to Mortgage Payable for $3898000 plus total interest over the term of the mortgage. a decrease to Cash for $3898000. Suppose that Sandhill purchased a building on January 2 by signing a long-term $3898000 mortgage with monthly payments of $35700. The mortgage carries an interest rate of 8%. The transaction to record the morteage will include an increase to Interest Expense for $3898000. an increase to Mortgage Payable for $3898000. an increase to Mortgage Payable for $3898000 plus total interest over the term of the mortgage. a decrease to Cash for $3898000