Question: Required information Problem 9-1A Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises
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Required information Problem 9-1A Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $349,000, paying $59,000 down and borrowing the remaining $290,000, signing a 8%,10-year mortgage. Installment payments of $3,518.50 are due at the end of each month, with the first payment due on January 31, 2021. Problem 9-1A Part 2 2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final ansv decimal places.) 5. Prepare a classified balance sheet as of January 31, 2021. (Deductible amount should be indicated with by a minus sign 4. Prepare an income statement for the period ended January 31, 2021. 3. n
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