Orbit Corp., issued a $410,000, 9 percent, mortgage on January 1, 2016, to purchase warehouses. Requirements 1.
Question:
Orbit Corp., issued a $410,000, 9 percent, mortgage on January 1, 2016, to purchase warehouses.
Requirements
1. Complete the amortization schedule for Orbit, Corp., assuming payments are made semiannually. Round amounts to the nearest dollar.
2. Record the journal entries for (a) issuance of the mortgage on January 1, 2016, and (b) the first semiannual payment on June 30, 2016?
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Req 1 A B C D Payment Interest Principal Loan Balance Date ...View the full answer
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