Blossom Company receives $385,000 when it issues a $385,000,5%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $37.092 on December 31. Your answer is correct Prepare an amortization schedule of a mortgage note for two years. (Round answers to decimal places, eg. 5,275.) Cash Payment Interest Expense Reduction of Principal Principal Balance $ $ $ 385.000 17.842 367,158 37.092 19.250 18,358 18,734 348,424 37,092 Your answer is partially correct Prepare the journal entry to record the mortgage loan (Round answers to decimal places, eg,5,275. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31. 2017 Cash 385,000 385.000 Mortgage note payable e Textbook and Media List of Accounts 0.8/1 Your answer is partially correct. Prepare the journal entries to record the first two installment payments. (Round answers to decimal places, eg: 5.275. Credit account titles are automatically indented when amount is entered. Do not indent manual) Date Debit Credit Account Titles and explanation First installment Payment 17.542 Dec 31, 2018 Mortgage note payable 19 250 Interest expense 37.162 Cash Second Installment Payment 18.734 Dec. 31. 2019 Mortgage note payable 10.350 Interest expense 37,092 Cash