Business, 15.04.2020 00:13 Melymarrupe1345

Elie Company purchased a building with a market value of $ 295 comma 000 and land with a market value of $ 45 comma 000 on January 1, 2018. Elie Company paid $ 40 comma 000 cash and signed a 20-year, 6% mortgage payable for the balance.

Requirements:

1. JournalizetheJanuary1,2018,purchase .

2. Journalize the first monthly payment of $3,370 on January 31, 2018. (Round to the nearest dollar.)

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Elie Company purchased a building with a market value of $ 295 comma 000 and land with a market valu...

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