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Tucki co receives 269083 when it issues a 269083 prepare

Problem

Tucki Co. receives $269,083 when it issues a $269,083, 10%, mortgage note payable to finance the construction of a building at December 31, 2014. The terms provide for semiannual installment payments of $19,800 on June 30 and December 31. Prepare the journal entries to record the mortgage loan and the first two installment payments.

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Accounting Basics: Tucki co receives 269083 when it issues a 269083 prepare

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