On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note for $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 in the long-term liabilities section for mortgage payable?

Question

On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note for $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 in the long-term liabilities section for mortgage payable?

Quizplus · Accepted Answer

A) Calculations: $50,466.48 - $9,921.93 = $40,544.55

On January 1,2013,Thames Company Purchases Property and Signs a 6-Year