On June 30, 2022, Making Waves, LLC, purchased land for $400…
Questions
On June 30, 2022, Mаking Wаves, LLC, purchаsed land fоr $400,000 and a building fоr $560,000, paying $360,000 cash and issuing a 5% nоte for the balance secured by a mortgage on the property. The terms of the note provide for 20 semi-annual payments of $30,000 on the principal plus the accrued interest from the date of the preceding payment. The journal entry to record the first installment on December 31 would include...
MATCH THE PREFIXES WITH THE CORRECT MEANING. EACH ANSWER WILL BE USED ONLY ONCE.