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Debit GredR ole Accuut Tthes and Explanation 24693 c.31 test Expense 61339 Mortgage Payable 86032 Cash k if you would like to Show Work for this question: Open Show Work OW LIST OF ACCOUNTS K TO TEXT LINK TO TEXT Your answer is partially correct. Try again. w the balance sheet presentation for this obligation for December 31, 2017. (Hint: Be sure to distinguish between the current and long-term portions of the note. LAVERNE Balance Sheet (Partial) December 31, 2017 ent uabilities Mortgage Payable 61339 tem Liabities Notes Payable 290500 351639

Debit GredR ole Accuut Tthes and Explanation 24693 c.31 test Expense 61339 Mortgage Payable 86032 Cash k if you would like to Show Work for this question: Open Show Work OW LIST OF ACCOUNTS K TO TEXT LINK TO TEXT Your answer is partially correct. Try again. w the balance sheet presentation for this obligation for December 31, 2017. (Hint: Be sure to distinguish between the current and long-term portions of the note. LAVERNE Balance Sheet (Partial) December 31, 2017 ent uabilities Mortgage Payable 61339 tem Liabities Notes Payable 290500 351639

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kimel, Financial Accounting, Se hile 1 Syotem Announcements CALCULATOR Problem 10-12A (Part Level Submission) avene purchased a new piece of equipment to be used in its new facality. The $415,000 piece of equipment was purchased with a $62,250 down payment and with cash receive a52,750, 7%, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $86,032 on December 31. (0) Your answer is correct. epare an installment payments sdchedule for the first five payments of the notes payable. (Round answers to 0 decimal places, e.g. 125.) Reduction Cash Payment Interest Annual terest Period Principal of Principal 352750 Expense Balance Issue Date 86032 61339 291411 1. E69 86032 65633 2. 66 225778 86032 15804 70228 155550 86032 80407 68801 75143 86032 5628 80404 Amount may be off due to rounding. kid you would like to Show Work for this question: Open Show Work SHOW SOLUTION SANDOJO ISI MORS LINK TO TEXT LXL OL PRUY
Transcribed Image Text:Kimel, Financial Accounting, Se hile 1 Syotem Announcements CALCULATOR Problem 10-12A (Part Level Submission) avene purchased a new piece of equipment to be used in its new facality. The $415,000 piece of equipment was purchased with a $62,250 down payment and with cash receive a52,750, 7%, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $86,032 on December 31. (0) Your answer is correct. epare an installment payments sdchedule for the first five payments of the notes payable. (Round answers to 0 decimal places, e.g. 125.) Reduction Cash Payment Interest Annual terest Period Principal of Principal 352750 Expense Balance Issue Date 86032 61339 291411 1. E69 86032 65633 2. 66 225778 86032 15804 70228 155550 86032 80407 68801 75143 86032 5628 80404 Amount may be off due to rounding. kid you would like to Show Work for this question: Open Show Work SHOW SOLUTION SANDOJO ISI MORS LINK TO TEXT LXL OL PRUY
Pgare the joumal ally) es ane at ometic Debit Credik cole Acount Titles and Exptanation 24693 Dec. 31 nteest Expense 13 Mortgage Rayable 61339 Cash 86032 lick if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT (c) Your answer is partially correct. Try again. now the balance sheet presentation for this obligation for December 31, 2017. (Hint: Be sure to distinguish between the current and long-term portions of the note.) LAVERNE Balance Sheet (Partial) December 31, 2017 Corrent Liabilities Mortgage Payable 61339 ng tem Liabinti Notes Payable 290500 351839 %24
Transcribed Image Text:Pgare the joumal ally) es ane at ometic Debit Credik cole Acount Titles and Exptanation 24693 Dec. 31 nteest Expense 13 Mortgage Rayable 61339 Cash 86032 lick if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT (c) Your answer is partially correct. Try again. now the balance sheet presentation for this obligation for December 31, 2017. (Hint: Be sure to distinguish between the current and long-term portions of the note.) LAVERNE Balance Sheet (Partial) December 31, 2017 Corrent Liabilities Mortgage Payable 61339 ng tem Liabinti Notes Payable 290500 351839 %24
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