Bondorf Inc. issues a $600,000, 10%, 10-year mortgage note on December 31, 2012, to obtain financing for

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Bondorf Inc. issues a $600,000, 10%, 10-year mortgage note on December 31, 2012, to obtain financing for a new building. The terms provide for semiannual installment payments of $48,145. Prepare the entry to record the mortgage loan on December 31, 2012, 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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