What will be the balance in the Mortgage Payable Account at Jan. 31, 2017 after the second monthly payment is made?

What will be the balance in the Mortgage Payable Account at Jan. 31, 2018 after the second monthly payment is made?

The company purchased a building December 1, 2017 with a LT Mortgage Payable of $300,000 at 8% interest. (Record the purchase of the building.) In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited. Dr. [1]_______________ [2]$_____________

The terms of the LT mortgage payable from #1 above require the company to make monthly installment payments over the term of the loan. Each payment consists of interest on the unpaid balance of the loan and a reduction of loan principal. Record the first monthly payment of $3,800 on the LT Mortgage Payable on December 31, 2017. In Blank [1] enter the mortgage to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the expense to be debited. In Blank [4] enter the amount to be debited. In Blank [5] enter the account to be credited. In Blank [6] enter the amount to be credited.

Foley Mountain Company Trial Balance 11/30/17 Cr Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable 112,000 127000 1,000 50,000 65,000 62,000 75,000 Invento Equipment Buildin Accumulated Depreciation 32,000 106,000 Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock $1.75 par Paid In Capital In Excess of Par-CS Preferred Stock $5 par Paid In Capital In Excess of Par-PS Treasury Stock Retained Earnings Dividends Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Bad Debts Expense Depreciation Expense Wages Expense Rent Expense Insurance Expense Supplies Expense Interest Revenue Interest Expense Gain on Sale of Equipment Income Tax Expense Total 12,000 22,000 45,000 0 125,000 16,840 175,000 86,000 1,000 50,000 3,500 2,000 480,160 10,000 3,000 46,000 30,000 26,000 160,000 98,000 25,000 16,000 1,000 15,000 1,065,500 6,500 46,000 1,065,500 Foley Mountain Company Trial Balance 11/30/17 Cr Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable 112,000 127000 1,000 50,000 65,000 62,000 75,000 Invento Equipment Buildin Accumulated Depreciation 32,000 106,000 Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock $1.75 par Paid In Capital In Excess of Par-CS Preferred Stock $5 par Paid In Capital In Excess of Par-PS Treasury Stock Retained Earnings Dividends Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Bad Debts Expense Depreciation Expense Wages Expense Rent Expense Insurance Expense Supplies Expense Interest Revenue Interest Expense Gain on Sale of Equipment Income Tax Expense Total 12,000 22,000 45,000 0 125,000 16,840 175,000 86,000 1,000 50,000 3,500 2,000 480,160 10,000 3,000 46,000 30,000 26,000 160,000 98,000 25,000 16,000 1,000 15,000 1,065,500 6,500 46,000 1,065,500