Jordan Corp completed the following transactions in 2014

Jan 1 Purchased #619

Jordan, Corp. completed the following transactions in 2014:Jan 1 Purchased a building costing
$100,000 and signed a 10-year, 10% mortgage note payable for the same amount.Jun 30 Made
the first semiannual payment on the mortgage note payable.Dec 1 Signed a five-year lease to
rent a warehouse for $7,000 per month due at the end of each month. The lease is considered
an operating lease.31 Paid for one month’s rent on the warehouse.31 Purchased 10 copiers
and signed a $40,000, four-year lease with the option to buy the copiers at the end of the fourth
year at a bargain price.31 Made the second semiannual payment on the mortgage note
payable.Requirements1. Complete the following amortization schedule for the first four
mortgage payments on the $100,000 mortgage note, assuming semiannual payments of
$8,024.2. Record the journal entries for the 2014 transactions.3. Prepare the long-term liabilities
section of the balance sheet on December 31, 2014.View Solution:
Jordan Corp completed the following transactions in 2014 Jan 1 Purchased

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