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Question(s) / Instruction(s):

Thayer Company purchased a building on January 2 by signing a long-term $840,000 mortgage with monthly payments of $7,700. The mortgage carries an interest rate of 10 percent. The entry to record the mortgage will include a

A.            credit to the Cash account for $840,000

B.            debit to the Mortgage Payable account for $840,000

C.            credit to the Mortgage Payable account for $840,000

D.            debit to the Cash account for $840,000

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