Roxy Inc. issues a $1,500,000, 10%, 10-year mortgage note on December 31, 2018, to obtain financing for a new building. The terms provide for annual installment payments of $244,118. Prepare the entry to record the mortgage loan on December 31, 2018, and the first installment payment on December 31, 2019.

Lester's fried chick'n purchased its building 11 years ago at a cost of $189,000. the building is currently valued at $209,000. the firm has other fixed assets that cost $56,000 and are currently valued at $32,000. to date, the firm has recorded a total of $49,000 in depreciation on the various assets it currently owns. current liabilities are $36,600 and net working capital is $18,400. what is the total book value of the firm's assets? $251,000 $241,000 $232,600 $214,400 $379,000