On January 1, Clive Corporation Signed a $450,000, 5%, 30-Year

question 44

Multiple Choice

On January 1, Clive Corporation signed a $450,000, 5%, 30-year mortgage that requires semiannual payments of $14,559 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, $11,167; debit Mortgage expense, $3,392; credit Cash, $14,559.
• B)debit Interest Expense, $3,392; debit Mortgage Payable, $11,167; credit Cash, $14,559.
• C)debit Interest Expense, $11,167; debit Mortgage Payable, $3,392; credit Cash, $14,559.
• D)debit Mortgage Payable, $14,559; credit Cash, $14,559.

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The rate at which someone or something is able to move or operate.

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Delaying a task for an invalid or weak reason.

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A very small or minor job, duty, or responsibility.