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Prepare the entry to record the mortgage loan on december

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1. Pickeril Inc. issues a $600,000, 10%, 10-year mortgage note on December 31, 2010, to obtain financing for a new building. The terms provide for semiannual installment payments of $48,145. Prepare the entry to record the mortgage loan on December 31, 2010, and the first installment payment. 

Reference no: EM131129775

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