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A company takes out an eight-year. $600.000 mortgage on September 1. The interest rate on the mortgage is 4% per year, and blended payments of

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A company takes out an eight-year. $600.000 mortgage on September 1. The interest rate on the mortgage is 4% per year, and blended payments of 57,314 (including both interest and principal) are to be made at the end of each month. The following is an extract from the mortgage amortization table: Determine the missing amounts, (Round answers to decimal places, eg. 125.) Beginning Mortgage Balance Payment Interest Payment 1 $600.000 $ (1) $2.000 Payment 2 594,686 7,314 131 Payment 3 (5) 7.314 1.965 Payment 584,005 7,314 1.947 eTextbook and Media List of Accounts Prepare the journal entries to record the inception of the mortgage and the first two monthly payments. Ignore year end accruals of interest.Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit (To record the inception of the mortgage (To record the first monthly payment To record the second monthly payment

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