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Wildhorse Inc. signed a 1 0 - year, 4 % , $ 5 4 0 , 0 0 0 mortgage payable on November 3 0
Wildhorse Inc. signed a year, $ mortgage payable on November with a bank to obtain financing for a new building. The terms provide for instalment payments of $principal and interest at the end of each month. Prepare the entries to record the mortgage obtained on November and the first two payments on December and January Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the question statement. If no entry is required, select No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg
Date
Account Titles
Debit
Credit
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