Crowley Corporation purchased a building on January 2 by signing a long-term $600,000 mortgage with monthly payments of $5,500 . The mortgage carries an interest rate of 10 percent. The entry to record the first monthly payment will be:
a. Mortgage Interest Expense 5,000
Cash 5,000
b. Mortgage Payable 500
Mortgage Interest Expense 5,000
Cash 5,500
c. Cash 5,500
Mortgage Interest Expense 5,500
d. Cash 5,500
Mortgage Payable 5,500
B
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Some differences between people, such as height and weight, are innate.
Answer the following statement true (T) or false (F)
The northwest-corner rule's biggest flaw is that:
A) it ignores costs. B) it cannot generate feasible solutions. C) it never generates ideal solutions. D) it ignores shipping time. E) it does not have a visualization capability.
In January 2014, Professor Noe entered into a contract with State University. She agreed to teach full time during the 2014-2015 academic year. Professor Noe died on May 31, 2014. Her estate A) is obligated to find another person who will agree to teach during the academic year
B) is discharged from any further obligations under the contract. C) will be discharged from any obligations under the contract only if it can be shown that her death was unexpected. D) will not be discharged. If the University has to pay more in order to hire a comparable substitute professor at the last minute, then the estate will be responsible for the difference in pay.
Portfolios C and X each have expected rates of return of 12%. C's beta is .9; X's beta is 1.1, therefore C dominates X
Indicate whether the statement is true or false.