Hanschu Inc. issues an $800,000, 10%, 10-year mortgage note on December 31, 2017, to obtain financing for
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Hanschu Inc. issues an $800,000, 10%, 10-year mortgage note on December 31, 2017, to obtain financing for a new building. The terms provide for annual installment payments of $130,196. Prepare the entry to record the mortgage loan on December 31, 2017, and the first installment payment on December 31, 2018.
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Related Book For 
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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