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grin007 [14]
1 year ago
11

On December 1, 2020, Bramble Corporation incurs a 15-year $1300000 mortgage liability in conjunction with the acquisition of an

office building. This mortgage is payable in monthly installments of $15600, which include interest computed at the rate of 12% per year. The first monthly payment is made on December 31, 2020. The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is: $12974. $15600. $2626. $2600.
Business
1 answer:
weeeeeb [17]1 year ago
6 0

The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.

<h3>Mortgage liability </h3>

Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.

<h3>What is mortgage asset or liabilities?</h3>

A current liability for

1) the principal payments that will be coming due within one year after the balance sheet date, and

2) any accrued interest that is owed as of the balance sheet date.

To learn more about current liability  visit the link

brainly.com/question/14287268

#SPJ4

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