Paris Company Buys a Building on a Plot of Land $$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}$$

question 58

Essay

Paris Company buys a building on a plot of land for $100,000,paying $20,000 cash and signing a 20-year mortgage note for $80,000 at 6%.Monthly payments are $570.The first monthly payment was made in January,2013.Please provide the journal entry for the first monthly payment.
$$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}$$

---

Definitions:

Organic Fertilizer

A type of fertilizer made from natural sources, such as plant or animal waste, that improves soil fertility by providing nutrients.

Checkout Counter

A desk or counter in a store where customers pay for their purchases, typically equipped with a cash register or payment terminal.

Municipal Solid Waste

Municipal solid waste refers to the everyday garbage or trash produced by households, businesses, and institutions within a municipality.

Hazardous Wastes

Materials that pose potential risks to public health or the environment due to their toxic, corrosive, or flammable properties, requiring special disposal methods.