Question
On January 1, 2018. Gundy Enterprises purchases an office for $151,000, paying $41,000 down and borrowing the remaining $110,000 signing a 7%, 10 year mortage. Installment payments kf $1,277.19 are dhe at the end kf each month, with the first payment due on January 31, 2018.
equired: Record the purchase of the building on January 1, 2018. (If no entry is required for a transaction/event, sele View
2. Complete the first three rows of an amortization schedule. (Do not round intermediate calcul Decrease in Date Cash PaidInt
Required: 3-a. Record the first monthly mortgage payment on January 31. 2018 (if no entry is required for a transaction/event
3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? (Ro
Problem 9-1A Part 4 9 * 120 monthly payments) How much of this is interest expense and how much is actual payment of the loan
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Answer #1

Ans:- Touanak entay。 Cned Bulldin ,51,ooo 4,ooo o Cas o mog ,1o,00D Ans2- cash pall interest De㎝easen Ca valua E) io,ooo 3iloAns4 Comput ntast epense ef Fol. Preds ora loan :$153,963 ment on note Ayble キ110,000 s oven an Actu ment on not e paybte ヂ,

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