Bluebell Orchard issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab.

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Bluebell Orchard issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab. The terms call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment payment.

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Oct 28, 2011 05:07 AM

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Bluebell Orchard issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab.

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