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On August 31,2024, Indigo Mortgage enters into a 10-year, 6%, $132,000 mortgage to finance the...

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Accounting

On August 31,2024, Indigo Mortgage enters into a 10-year, 6%, $132,000 mortgage to finance the construction of a condo complex. The terms provide for monthly instalment payments at the end of each month, commencing September 30,2024.
(a)
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Record the issue of the mortgage ptyable on August 31,2024.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.)
Date Account Titles
Debit
Credit
Aug. 31,
2024
Cash
132,000
Mortgage Payable
eTextbook and Media
List of Accounts
Attempts: 1 of 1 used
B) record the first two instalment payments on September 30,2024, and October 31,2024, assuming the payment (1) a foxed principal payment of $1,100, and (2) a blended principal and intrest payment of $1,465
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