Please provide the following journal entries for these transactions, you can draw the T-Accounts or journal entries; A) Mortgage Company funded a loan for $100,000 and thecompany only advance 98% of the loan through financing (Warehouse Line). Remaining 2%is gathered from Companys funds. B) The same loan was sold to investor at 102 % 15 dayslater, please prepare the journal entries. C) The Company has expenses at the end of themonth in the amount of $20,000 but has not paid until 30 days later. Please prepare journalentries at the end of the month and 30 days payment. D) The company received funds andhas a trust liability account for borrowers in the amount of $10,000. 30 days later the trustliability is being transferred to the final investors. E) Company Prepaid Insurance for 12 monthsand paid in January for $1,200. You are now in the March 31 st of the year.

Mortgage funding Scenario: Mortgage company funded a loan of $100,000 and company advances only 98%…

Answered: Please provide the following journal…

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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answer in text form please (without image), Note: .Every entry should have narration please
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