How do you calculate mortgage payments on a mortgage? (Excerpts from the newspaper)?

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Pickeril Inc. is a $ 609,000, 10% mortgage note from 10 years to 31 December 2008, funding for a new building received. Conditions to provide semi-annual installments of $ 48,867. Prepare the entry to the mortgage to 31 December 2008 and the first record has Ratenzahlung.Ich following log entries: 31 DezemberDr. Cash $ 609.000Cr. Mortgage notes payable $ 609.00030. JuniDr. Interest expense $ ? Dr. Mortgage notes payable $ ? Cr. Cash $ 48.867Wie you calculate interest and mortgage notes payable for the first installment?

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  1. Reply
    Sandy
    May 3, 2011 at 6:47 am

    June 30
    Dr. Interest Expense $ 30,450 ($ 609,000 x 10% x 6/12)
    Dr. Mortgage Notes Payable $ 18,417
    Cr. Cash $ 48,867

    In future, pls ask accounting questions under Other – Business & Finance, not Personal Finance.

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