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Wiping Company signed a $200,000 10-year mortgage on Dec. 31. The company is required to make equal monthly payments of $2,200 for a total of
Wiping Company signed a $200,000 10-year mortgage on Dec. 31. The company is required to make equal monthly payments of $2,200 for a total of $26,400 in payments during the coming year. These payments include repayment of principal of $14,800. The mortgage should be shown on the company's Dec. 31 balance sheet as: (Check all that apply.)
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