How would the mortgage be reported on the balance sheet
John obtained a $300,000 mortgage on December 27, 2007 or purchase of an office building. The terms of the loan specify that John will make payments totaling $18,000 in 2008. How would the mortgage be reported on the balance sheet at 12/31/07?
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John obtained a $300,000 mortgage on December 27, 2007 or purchase of an office building. The terms of the loan specify that John will make payments totaling $18,000 in 2008.
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