Ember Company purchased a building with a market value of $280,000 and land with a market value of $55,000 on January 1, 2018. Ember Company paid $15,000 cash and signed a 25-year, 12% 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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Ember Company purchased a building with a market value of $280,000 and land with a market value of $...
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