what is the journal entry? Jan 31 The monthly payment for January of the mortgage payable was
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what is the journal entry?
Jan 31 The monthly payment for January of the mortgage payable was made
Mortgage Payable
The following amortization schedule can be used for the January, 2023 mortgage payment on the 8.0%, 30- year mortgage.
Month | Payment | Interest | Principal | Balance |
January | $3,000 | $2,563 | $437 | $350,000 $349,563 |
February | $3,000 | $2,553 | $447 | $349,116 |
March | $3,000 | $2,543 | $457 | $348,659 |
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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