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Prepare a instalment payment schedule for the note

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Reference no: EM132492327

Yore University issues a 3 Year, 6%, 360,000 mortgage note in order to finance the renovation of an outdated residence. The most is issued on December 31, 2009 and provides for six equal principal payments plus interest on June 30 and December 31 each year until the note is repaid.

Question a) Prepare a instalment payment schedule for the note

Question b) Record the transactions required from December 31,2009 to December 31, 2010

Question c) Indicate how the note would be presented on the balance sheet at June 30, 2010

Reference no: EM132492327

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