A company takes out a six-year, $530,000 long-term loan on March 1. The interest rate on the loan is 7% per year, and blended payments of $9,036 (including both interest and principal) are to be made at the end of each month. The following is an extract from the loan amortization table the bank provided the company with: (a) Your answer is correct. Determine the missing amounts. (Round answers to O decimal places, e.g. 125.) Payment 1 Beginning Loan Balance $530,000 Payment Interest 9036 (1) $3,092 Principal $5,944 Ending Loan Balance $524,056 Payment 2 524,056 Payment 3 518,077 9,036 3057 (2) 5979 (3) 518,077 9,036 3,022 6,014 512063 (4) Payment 4 512063 (5) 9,036 2987 (6) 6,049 506,014 Prepare the journal entries to record the inception of the loan and the first two monthly payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to O decimal places, e.g. 125.) Account Titles and Explanation (To record the inception of the mortgage) (To record the first monthly payment) Debit Credit