Question: Orbit Corp issued a 400 000 10 15 year mortgage on January

Orbit, Corp. issued a $400,000, 10%, 15-year mortgage on January 1, 2014, to purchase warehouses.
Requirements
1. Complete the amortization schedule for Orbit, Corp. assuming payments are made semiannually.
2. Record the journal entries for (a) issuance of mortgage on January 1, 2014, and (b) the first semiannual payment on June 30, 2014.

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  • CreatedJuly 08, 2015
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