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wildhorse inc. issues an $760,000, 10%, 10-year mortgage note on december 31, 2022, to obtain...

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Accounting

Wildhorse Inc. issues an $760,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financing for a new building. The terms provide for annual installment payments of $140,000. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023

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