Question

Exercise 10-5 La Porte Company obtained a 10-year, 5 % , $187 ,000 mortgage loan to finance the purchase of a warehouse at March 31, 2017. The terms provide for semi-annual instalment payments on September 30 and March 31. Record the obtaining of the mortgage payable on March 31, 2017. (Credit account titles are automatically indented when the amount entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 SHOW IIST OF ACCOUNTS LINK TO TEX Record the first two Instalment Patrcount titles are automatically indented when the g the payment is (1) a fixed principal payment of $9.350 plus Interest, and (2) a blended principal and Interest payment of $11,996 on September 30, 2017, and March 31, 2018, assuming is entered. Do not indent manually.) whole dollar, e.g. 5,275. Credit (1) Fixed principal payment Payment Account Titles and Explanation Date Debit Credit Flrst Instalment September 30 Second Instalment Mar. 31 (2) Blended principal and interesst payment Рayment Date Account Titles and Explanation Deblt Credit Flrst Instalment September 30 Second Instalment Mar. 31

Answer 1

Cadi's Debit Account Tittes Date Mauch, 31 Cash $ 187,000 |e lonn fayable 187,000 fy Pindpal Payment Debit andit Actount titles Date fay ment Motgage lean Payable #9,350 Tnteut Eypunee Fuist Installment Sept. 30 4/675 Cash 14,025 Second Tni talmant Masch31 Mortgage lean fayable $9,350 Intuest Expanse 4,441 Cash 13, 791 Glalation Intuut fypunle Fiist Installmeut $1,87,000 X5.. x6 12 4,675 secend Tnsta llmaut 187,000- 9,350 » S. x6 2 $4,44 12

Blended Pindpal & Inteut Paymeut of 11,96 Cadit Debit Date 4 Fust Tns tallmut sept. 30 Metpage lean Payable 7,3 Intuut pense 4,675 Cash 11,996 Secend Tnstallmant Malch3 $ 7,504 Moigage fayable loaun Inteust fypentus 4,49a Cash 11,996 Calulation f Tnteust fxpenues Fist Tnatallmant Previous Lame as 181, 600 -7, 3a1) x 51. x6 2 $ 4,49a 17 second

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