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Assets Liabilities + Stockholders Equity Unearn. Prepd. + Acc. Depr.-+ Acc. Depr.- Accts Sal/Wages Serv. Rev. Mortg. Com. Re
for number 4, where did you get 140 from?
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Answer #1

Mortgage Payable = 33600

Mortgage Interest = 5%

Since Mortgage was taken on May 1 and we are recording adjustments on May 31, we will only record Interest accrued for 1 month.

Mortgage Interest = 33600 x 5% x 1/12 = 140

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