Required Information Problem 9-1A Record and analyze installment notes (LO9-2) [The following information applies to...
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Required Information Problem 9-1A Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $206,000. paying $46.000 down and borrowing the remaining $160.000. signing a 9%, 10-year mortgage. Installment payments of $2.026.81 are due at the end of each month, with the first payment due on January 31, 2021. Problem 9-1A Part 4 4. Total payments over the 10 years are $243.217 ($2,026.81* 120 monthly payments). How much of this is interest expense and how much is actual payment of the loan? Interest expense Actual payments on the loan
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