On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%. Please see the partial amortization schedule below. At the end of 2013, what amount would be shown on the balance sheet for mortgage payable (excluding the current portion)?

Question

On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%. Please see the partial amortization schedule below.  At the end of 2013, what amount would be shown on the balance sheet for mortgage payable (excluding the current portion)?

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The Answer of On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%. Please see the partial amortization schedule below.  At the end of 2013, what amount would be shown on the balance sheet for mortgage payable (excluding the current portion)?

On January 1, 2013, Thames Company Purchases Property and Signs