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(Solved) Here I go again this is the third time I submitted this problem,


Here I go again this is the third time I submitted this problem, I am not getting all the answers and I cannot see some of the answers because of the way they are being written I cannot see all the numbers in the columns. This is not free I am paying for this can someone please help me ASAP. I am being told also in one of my response from someone to post this in advance questions but I do not see this no where again this is not free I am paying. This is the problem : Nance co. receives $396,200 when it issues a $396,200, 7%, mortgage note payable to finance the construction of a building at December 31, 2014. the terms provide for semiannual installment payments of $21,542 on June 30 and December 31. part 1, prepare the schedule using effective interest method to amortize bond premium or discount of Nance co. part 2, prepare the journal entries to record the mortgage loan. part 3, prepare the journal entries to record the first two installment payments. this part has two answers a first installment payment and a second installment payment.
Answer

 


 

Semi

 

Annual

 

Interest

 

payment

 

Dec. 31,

 

2014

 

June

 

30,2015

 

Dec

 

31,2015

 


 

Cash

 

paymen

 

t

 


 

Interest

 

Expenses

 


 

reduction

 

Principal

 

of principal balance

 

3,96,200

 


 

21542 13,867.00

 


 

7,675.00...

 


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Oct 15, 2019

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