Crane Company purchased a building on January 2 by signing a long-term $480000 mortgage with monthly payments of $4300. The mortgage carries an interest rate of 10 percent. The entry to record the first monthly payment will include a

credit to the Cash account for $4000.

credit to the Mortgage Payable account for $4300.

debit to the Cash account for $4300.

debit to the Interest Expense account for $4000.