Question: Crane Inc issues a $ 1 , 3 0 0 , 0 0 0 , 9 % , 1 0 - year mortgage note on

Crane Inc issues a $1,300,000,9%,10-year mortgage note on December 31,2020, to obtain financing for a new building. The terms
provide for annual installment payments of $202,566.
Prepare the entry to record the mortgage loan on December 31,2020, and the first installment payment on December 31,2021.
(Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Crane Inc issues a $1,300,000,9%,10-year mortgage note on December 31,2020, to

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