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DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $300,000. A down payment of $30,000 was required and the remainder was financed with a 8% instalment loan payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,512 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Payment Dates 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 Beginning loan balance...
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DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $300,000. A down payment of $30,000was required and the
remainder was financed with a 8% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,512 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance
9/30/20...
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DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
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DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
-
correct version
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7% instalment loan LORETIRE payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The following is an extract from the loan GENER amortization table the supplier provided to DueNorth : Beginning Ending Payment loan Dates balance Payment...
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please
help with the corrections
DueNorth Mining Inc. purchased some crushing equipment on May 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a installment on payable over 5 years with payments made on a quarterly basis. The quarterly payments required are 516,714 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Ending loan Payment Dates 9/30/20 12/31/20 3/31/21...
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pls
answer interest expense
AccoUNTING (Me FULL SCREEN DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7 % instalment loarm payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The folowing is an extract from the loan amortization table the supplier provided to DueNorth: PRINTER VERSTON BACK...
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On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
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Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
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Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $300,000. A down payment of $30,000 was required and the remainder was financed with a 8% instalment loan payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,512 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Payment Dates 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 Beginning loan balance...
DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $300,000. A down payment of $30,000was required and the
remainder was financed with a 8% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,512 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance
9/30/20...
DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
correct version
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7% instalment loan LORETIRE payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The following is an extract from the loan GENER amortization table the supplier provided to DueNorth : Beginning Ending Payment loan Dates balance Payment...
please
help with the corrections
DueNorth Mining Inc. purchased some crushing equipment on May 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a installment on payable over 5 years with payments made on a quarterly basis. The quarterly payments required are 516,714 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Ending loan Payment Dates 9/30/20 12/31/20 3/31/21...
pls
answer interest expense
AccoUNTING (Me FULL SCREEN DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7 % instalment loarm payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The folowing is an extract from the loan amortization table the supplier provided to DueNorth: PRINTER VERSTON BACK...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...