Elie Company purchased a building with a market value of $ 295 comma 000 and land with a market value of $ 45 comma 000 on January 1, 2018. Elie Company paid $ 40 comma 000 cash and signed a 20 -year, 6 % 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.)
+5
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Elie Company purchased a building with a market value of $ 295 comma 000 and land with a market value of $ 45 comma 000 on January 1, 2018. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Elie Company purchased a building with a market value of $ 295 comma 000 and land with a market value of $ 45 comma 000 on January 1, 2018. Elie Company paid $ 40 comma 000 cash and signed a 20 -year, 6 % mortgage payable for the balance.