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Record the obtaining of the mortgage payable

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Question - On December 31. 2020. Ste-Anne Corp. obtained a 10-year, 5%, $260,000 mortgage loan from a bank to finance the purchase of a building in the future. The terms provide for semi-annual installment payments on June 30 and December 31.

Required - Record the obtaining of the mortgage payable on December 31, 2020.

Reference no: EM133050593

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