On January 1,Greene Autos Signed a $210,000,6%,30-Year Mortgage That Requires

Multiple Choice

On January 1,Greene Autos signed a $210,000,6%,30-year mortgage that requires semiannual payments of $7,585 on June 30 and December 31 of each year.The journal entry to record the first semiannual payment would be (round interest calculation to the nearest dollar) to:

A) debit Mortgage Payable,$7,585;credit Cash,$7,585.
B) debit Interest Expense,$1,285;debit Mortgage Payable,$6,300;credit Cash,$7,585.
C) debit Interest Expense,$6,300;debit Mortgage expense,$1,285;credit Cash,$7,585.
D) debit Interest Expense,$6,300;debit Mortgage Payable,$1,285;credit Cash,$7,585.