FIN.ACCT-TOOLS F/DECI.MAKERS-TEXT+WILEY+
FIN.ACCT-TOOLS F/DECI.MAKERS-TEXT+WILEY+
9th Edition
ISBN: 9781119598312
Author: Kimmel
Publisher: WILEY C
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Chapter 10, Problem 28Q
To determine

Mortgage payable

Mortgage payable is a long term note secured by a loan, which pledges title to particular assets as a security for the loan. The company has to pay the mortgage with interest.

To discuss: If TR is right for calculation of the term of the mortgage payable as 40 years.

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