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On August 31,2024, Riverbed Mortgage enters into a 10-year, 6%, $168,000 mortgage to finance the...

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Accounting

On August 31,2024, Riverbed Mortgage enters into a 10-year, 6%, $168,000 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) Record the issue of the mortgage payable on August 31,204.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record the first two instalment payments on September 30,2024 and October 31,2024, assuming the payment is (1) a fixed principal payment of $1400, and (2) a blended principal and interest payment of $1865

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