Question: Crane Co . issues a $ 4 9 2 , 0 0 0 , 2 5 - year, 3 % note payable on April 3

Crane Co. issues a $492,000,25-year, 3% note payable on April 30,2024, for cash. The terms provide for
monthly instalment payments.
(b)
Prepare the journal entries to record the mortgage loan on April 30,2024, and the first two payments on
May 31,2024, and June 30,2024, assuming the payment is a blended payment of $2,333.(List all debit
entries before credit entries. Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter 0 for the amounts. Round answers to 0 decimal places, e.g.5,275. Record journal
entries in the order presented in the problem.)
Date
Account Titles
Debit
 Crane Co. issues a $492,000,25-year, 3% note payable on April 30,2024,

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