Sunland Inc. issues an $850,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financing for a new building. The terms provide for annual installment payments of $120,000. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023.
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Sunland Inc. issues an $850,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financin...
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