Question
Talkington Electronics issues a $432,000, 7%, 15-year mortgage note on December 31, 2016. The proceeds from the note are to be used in financing a
Talkington Electronics issues a $432,000, 7%, 15-year mortgage note on December 31, 2016. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $61,507. Payments are due on December 31.
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Financial Accounting An Introduction to Concepts, Methods and Uses
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
14th edition
978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023
