Apex, Co. issued a $225,000, 9% mortgage on January 1, 2014. Payments of $10,900 are made semiannually

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Apex, Co. issued a $225,000, 9% mortgage on January 1, 2014. Payments of $10,900 are made semiannually on June 30 and December 31 each year. Calculate and record the journal entries for

(a) Issuance of the mortgage on January 1, 2014,

(b) The first semiannual payment on June 30, 2014.

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Financial Accounting

ISBN: 978-0132889711

1st Canadian Edition

Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper

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Question Posted: Jul 08, 2015 02:41 AM

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Apex, Co. issued a $225,000, 9% mortgage on January 1, 2014. Payments of $10,900 are made semiannually

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Journal DATE ACCOUNTS POST REF DR CR 2014 a Jan 1 Build...View the full answer

Financial Accounting

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