Ctenanthe Plant Co. borrows money to buy some new green houses. To do so, Ctenanthe borrows $750,000 in a 15-year fixed mortgage. To record the borrowing, Ctenanthe should. debit mortgage payable for $750,000 debit cash for $750,000 Ctenanthe
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Ctenanthe Plant Co. borrows money to buy some new green houses. To do so, Ctenanthe borrows $750,000 in a 15-year fixed mortgage. To record the borrowing, Ctenanthe should.
debit mortgage payable for $750,000
debit cash for $750,000
Ctenanthe dooes not need to record anything until the first payment is due, since thi is long-trm borrowing.
credit cash for $750,000
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