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Title: On January 1, Clive Corporation signed a $175,000, 8%, 30-year mortgage that requires semiannual ... Post by: tivo on Feb 21, 2017 On January 1, Clive Corporation signed a $175,000, 8%, 30-year mortgage that requires semiannual payments of $7,735 on June 30 and December 31 of each year. The journal entry to record the first semiannual payment would be (round interest calculation to the nearest dollar) to:
A) debit Interest Expense, $735; debit Mortgage Payable, $7,000; credit Cash, $7,735. B) debit Interest Expense, $7,000; debit Mortgage Payable, $735; credit Cash, $7,735. C) debit Mortgage Payable, $7,735; credit Cash, $7,735. D) debit Interest Expense, $7,000; debit Mortgage expense, $735; credit Cash, $7,735. Title: Re: On January 1, Clive Corporation signed a $175,000, 8%, 30-year mortgage that requires semiannual ... Post by: largerthanlife on Feb 21, 2017 Content hidden
Title: Re: On January 1, Clive Corporation signed a $175,000, 8%, 30-year mortgage that requires semiannual ... Post by: tivo on Apr 10, 2017 Luckily this is the last business course I'll be taking. Thank you greatly
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