Question: how do I figure out how to get the numbers in interest expense, mortgage payable and cash 2018 Mar . 1 Borrowed $6GO. Odd from

how do I figure out how to get the numbers in interest expense, mortgage payable and cash

how do I figure out how to get the numbers in interestexpense, mortgage payable and cash 2018 Mar . 1 Borrowed $6GO. Odd

2018 Mar . 1 Borrowed $6GO. Odd from Naples Bank. The 12- year , 7% note requires payments due annually , on March 1 . Each payment consists of $55, 000 principal plus one year's interest . Dec. 1 Mortgaged the warehouse for $5.50,000 cash with Saban Bank . The mortgage requires monthly payments of $3. 090 . The interest rate on the note is 5% and accrues monthly . The first payment is due on January 1 , 2019. 31 Recorded interest accrued on the Saban Bank note . 31 Recorded interest accrued on the Naples Bank note . 2019 Jan . 1 Paid Saban Bank monthly mortgage payment Feb. 1 Paid Saban Bank monthly mortgage payment Mar. 1 Paid Saban Bank monthly mortgage payment $ Paid first installment on note due to Naples BankFeb. 1, 2019: Paid Saban Bank monthly mortgage payment . Date ACCOUNTS Debit Credit 2019 Feb. 1 Interest EXPENSE* Mortgage Payable Cash

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