Please explain in full and tell why other options are incorrect.... Thank you in advance   On 1 October 2019 Point West Property Pty Ltd purchased a building for $1,250, 000, paying $250,000 as a deposit with the balance being financed by Hobart Commercial Bank. The cost of debt relating to the Mortgage was 12% per annum. The monthly repayment was $14 000. The entry to record the payment on 1 November 2019 is: Group of answer choices a. DR: Interest expense $10 000; DR: Mortgage payable $4,000; and CR: Cash $14 000 b. DR: Mortgage payable $14 000; CR: Cash $14 000 c. DR: Interest expense $10 000; DR: Cash $4,000; and CR: Mortgage payable $14 000 d. DR: Interest expense $14 000; CR: Cash $14 000

Based on the following information, determine the maximum loan amount available as of July 31, 2021. T   The plan allows for two outstanding loans at a time.   The participant took a loan of $45,000 on March 1, 2021.   The participant's outstanding loan balance is $0 as of July 31, 2021.   The participant's vested account balance is $150,000 .   Answers: $0, $5,000, $50,000, or $75,000?

Required information [The following information applies to the questions displayed below.] On January 1, 2024, Bloomfield Enterprises purchases a building for $327,000, paying $57,000 down and borrowing the remaining $270,000, signing a 7%, 10-year mortgage. Installment payments of $3,134.93 are due at the end of each month, with the first payment due on January 31, 2024. 3-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3a Req 3b Record the first monthly mortgage payment on January 31, 2024. (If no entry is required for select "No Journal Entry Required" in the first account field. Do not round intermediate calcul to 2 decimal places.) No Date General Journal 1 January 31, 2024 Interest Expense Notes Payable Cash Debit 1,559.93( 1,575.00

Current Attempt in Progress Crane Inc. signed a 10-year, 4%, $240,000 mortgage payable on November 30, 2020, with a bank to obtain financing for a new machinery. The terms provide for instalment payments of $2,430 at the end of each month. Prepare the entries to record the mortgage on November 30, 2020, and the first two payments on December 31, 2020, and January 31, 2021. (Credit account titles are automatically indented when the amount is entered.Do not indent manually. List all debit entries before credit entries. Round answers to the nearest whole dollar, e.g. 5,275.) Blended principal and interest payment Date 2020 2021 Account Titles and Explanation Debit 10 Credit