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Kellerman company purchased a building and land with a fair

Question - Kellerman Company purchased a building and land with a fair market value of $525,000 (building, $375,000 and land, $150,000) on January 1, 2016. Kellerman signed a 15 year, 10% mortgage payable. Kellerman will make monthly payments of $5,641.68.

Prepare an amortization schedule for the first two payments.

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Accounting Basics: Kellerman company purchased a building and land with a fair

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Accounting Basics: Kellerman company purchased a building and land with a fair

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