On January 1,2015,Anderson Tools Company purchases property of $300,000 by paying $50,000 in cash and signing a 10-year mortgage note at 13% for the balance.The amortization schedule shows that the company will pay $46,072 per year.Journalize the first yearly payment on January 1,2016.

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The Answer of On January 1,2015,Anderson Tools Company purchases property of $300,000 by paying $50,000 in cash and signing a 10-year mortgage note at 13% for the balance.The amortization schedule shows that the company will pay $46,072 per year.Journalize the first yearly payment on January 1,2016.

On January 1,2015,Anderson Tools Company Purchases Property of $300,000 by Paying