Question

What would be the journal entry to record the second month's payment of the mortgage. Assume...

What would be the journal entry to record the second month's payment of the mortgage. Assume that your friend has a business and the morthgage payment has too be recorded on the books. Please explain the entry.

Homework Answers

Answer #1

Feedback is welcomed.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A journal entry to record a payment on account will include a A. debit to Accounts...
A journal entry to record a payment on account will include a A. debit to Accounts Receivable. B. credit to Accounts Receivable. C. debit to Accounts Payable. D. credit to Accounts Payable. can u explain to me why not the D answer?
Journal Entry Part 2 For the second part of your journal entry, reflect on the different...
Journal Entry Part 2 For the second part of your journal entry, reflect on the different cultures—ethnic, religious, regional, or generational—of the elder patient population at your practicum site. Describe the cultures you have observed and explain the influence of these cultures on the prevalence and detection of elder abuse. Then, explain how culture might impact the way you would implement resources for preventing or addressing abuse.
How do you analyze a transaction when they are to first record as a journal entry...
How do you analyze a transaction when they are to first record as a journal entry like the adjusted, but refering to the bank reconciliation? How do you analyze a transaction when they are the the kind that are recorded as the original journal entry? I ask it like that because i understand the accounting equation, but the business operation and the roles of all the transactions I do not.
1.) What is the journal entry to record the purchase of inventory using the perpetual method...
1.) What is the journal entry to record the purchase of inventory using the perpetual method of accounting? 2.) What is the journal entry to record the return of an item purchased for inventory using the perpetual method of accounting? 3.) What are the journal entries to record the sale of merchandise inventory using the perpetual method of accounting? 4.) What are the journal entries to record a sales return of merchandise inventory using the perpetual method of accounting? 5.)...
The entry to record the payment of salary expense, $2,000 would be: Select one: a. Salary...
The entry to record the payment of salary expense, $2,000 would be: Select one: a. Salary Expense                     2,000            Cash                                                     2,000 b. Salary Expense                     2,000            Salary Payable                                     2,000 c. Cash                                       2,000           Salary Expense                                     2,000
1. On behalf of your assumption amount make Accounting equation and pass journal entry of all...
1. On behalf of your assumption amount make Accounting equation and pass journal entry of all below given transaction in the books of Alnaeem and also make balance sheet on the basis of the last equation. A) Alnaeem start business with investment of cash assume amount yourself and put in equation and pass journal entry. B) Alnaeem purchase furniture with cash assume amount yourself and put in equation and pass journal entry. C) Alnaeem purchase Goods with cash assume amount...
4) What is the journal entry to record the issuance of 14,000 shares of $7 par...
4) What is the journal entry to record the issuance of 14,000 shares of $7 par value common stock at $21 per share for cash? ()
The proper adjusting journal entry to record depreciation expense for the end of an accounting period...
The proper adjusting journal entry to record depreciation expense for the end of an accounting period would be to: (1pts) Question 4 - The proper adjusting journal entry to record depreciation expense for the end of an accounting period would be to: Select debit equipment; and credit depreciation expense as your answer debit equipment; and credit depreciation expense Select debit depreciation expense; and credit accumulated depreciation as your answer debit depreciation expense; and credit accumulated depreciation Select debit accumulated depreciation;...
The journal entry to record $4,500 cash received from clients on account would include a a.credit...
The journal entry to record $4,500 cash received from clients on account would include a a.credit to Accounts Receivable for $4,500. b.debit to Accounts Receivable for $4,500. c.credit to Fees Earned for $4,500. d.debit to Fees Earned for $4,500.
You are borrowing $200,000 on a 30 year, 12% apr, monthly payment, mortgage loan. How much...
You are borrowing $200,000 on a 30 year, 12% apr, monthly payment, mortgage loan. How much will be your principal repayment from your monthly mortgage payment at the end of the second month?(Make a table for the mortgage loan payment schedule) Can you explain how to get interest and principle repaid please