On January 1, Greene Autos Signed a $270,000, 8%, 30-Year

question 95

Multiple Choice

On January 1, Greene Autos signed a $270,000, 8%, 30-year mortgage that requires semiannual payments of $11,934 on June 30 and December 31 of each year. The journal entry to record the second semiannual payment would be: (Round your final answer to the nearest dollar.)

• A)debit Interest Expense, $10,755; debit Mortgage Payable, $1,179; credit Cash, $11,934.
• B)debit Mortgage Payable, $11,934; credit Cash, $11,934.
• C)debit Interest Expense, $10,755; debit Mortgage expense, $1,179; credit Cash, $11,934.
• D)debit Interest Expense, $1,179; debit Mortgage Payable,$10,755; credit Cash, $11,934.

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