On January 1, 2019 Inglewood Corporation purchased a new warehouse facility for $5 million. Inglewood...
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Accounting
On January 1, 2019 Inglewood Corporation purchased a new warehouse facility for $5 million. Inglewood made a 10 down payment and financed the remaining $4.5 million with a 30-year mortgage at 4% with payments due monthly.
Compute the amount of Inglewoods monthly payment
Prepare the journal entry for the purchase of the warehouse
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