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Compute the amount of inglewoods monthly payment

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Reference no: EM132546729

Question - On January 1, 2019 Inglewood Corporation purchased a new warehouse facility for $5 million. Inglewood made a 10 down payment and financed the remaining $4.5 million with a 30-year mortgage at 4% with payments due monthly.

Required -

a. Compute the amount of Inglewood's monthly payment.

b. Make the journal entry for the purchase of the warehouse.

c. Make an amortization table that covers the first four monthly payments made on the mortgage.

Reference no: EM132546729

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