On the balance sheet,a mortgage loan is recorded as the
A) interest only.
B) sum of interest paid and the outstanding balance.
C) sum of interest due and the outstanding balance.
D) principal portion only.
E) none of the above.

Question

Quizplus · Accepted Answer

On the balance sheet, a mortgage loan is recorded as the principal portion only, as this represents the amount borrowed from the lender and not the interest paid or due. The outstanding balance may include both principal and interest, but only the principal portion is recorded on the balance sheet.

On the Balance Sheet,a Mortgage Loan Is Recorded as the