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On 1 March, the Red Dour Inn Company Purchased a Motel

Question 81

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On 1 March, the Red Dour Inn Company purchased a motel for $1 000 000, paying 25% in cash and financing the remainder with a 20-year, 12% mortgage that requires monthly payments of $8258.14.
How would the Red Dour Inn record:
On 1 March, the Red Dour Inn Company purchased a motel for $1 000 000, paying 25% in cash and financing the remainder with a 20-year, 12% mortgage that requires monthly payments of $8258.14. How would the Red Dour Inn record:

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