Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Exercise 10

Recording mortgage payable entries from an amortization schedule
Kaiser Company's partial amortization schedule follows:

Requirements
1. Journalize the note issuance and the reclassification of the current portion on January 1, 2013 (explanations are not required).
2. Journalize the first payment on January 31, 2013 (do not round).
3. Journalize the second payment on February 28, 2013 (do not round).