On January the Mountain Company agreed to purchase a building by making six payments. The first three are to be $ each, and will be paid on December and The last three are to be $ each and will be paid on December and Mountain borrowed other money at a annual rate.
Required:
At what amount should Mountain record the note payable and corresponding cost of the building on January
How much interest expense on this note will Mountain recognize in
Note: For all requirements, use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
table Amount recorded Interest expense
