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    Aleja's Avatar
    Aleja Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Feb 27, 2010, 03:29 PM
    Glen Pool Club, Inc. has a $150,000 mortgage liabilty. The mortgage is payable in mo
    Glen Pool Club, Inc. has a $150,000 mortgage liabilty. The mortgage is payable in monthly installments of $1,543 , which include interest computed at an annual rate of 12 percent (1 percent monthly). Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in the mortgage`s unpaid balance. Prepare the journal entry to record the second monthly paymment.
    Will monthly interest increase, decrease or stay the same over the life of the loan? Explain.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Feb 27, 2010, 04:02 PM
    Thank you for taking the time to copy your homework to AMHD.
    Please refer to this announcement: https://www.askmehelpdesk.com/financ...-b-u-font.html
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