4. Power-house issues an $800,000,9%, 8-year mortgage note on December 31, 2012, to faclp finance...
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4. Power-house issues an $800,000,9%, 8-year mortgage note on December 31, 2012, to faclp finance a new development program. The terms provide for semiannual installment payments, not including real estate taxes and insurance, of $44,149. Payments are due June 30 and December 31 Instructions (a) Prepare an installment payments schedule for the first 2 years (b) Show how the total mortgage liability should be reported on the balance sheet ut December 31, 2013 7
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