Blossom Inc. issues a $372,000, 10-year, 6% mortgage note payable on November 30, 2021, to obtain financing for a new building. The terms provide for monthly instalment payments.

Prepare the journal entries to record the mortgage loan on November 30, 2021, and the first two payments on December 31, 2021, and January 31, 2022, assuming the payment is a blended payment of $4,130.

payment is a blended payment of $4,130. (Credit account titles are automatically Indented when the is required, select "No Entry" for the account tities and enter o for the amounts. Round answers to Date Account Titles and Explanation Debit Credit Nov. 30, 2021 Building 372000 Mortgage Note Payable 32700 (To record issuance of note.) Dec 31, 2021 Interest Expense 1860 Mortgage Note Payable 4130 Cash 5990 (To record payment on note.) Jan. 31, 2027 Interest Expense 1839.35 Mortgage Note Payable 4130 Cash 5969.35 (To record payment on note.)