Crane Company receives $246,000 when it issues a $246,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual installment payments of $41,000 on December 31. Prepare an amortization schedule of a mortgage note for two years. Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date 12/31/23 12/31/24 Prepare the journal entry to record the mortgage loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2022 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the journal entries to record the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation First Installment Payment Dec. 31, 2023 Second Installment Payment Dec. 31, 2024 Sunland Company issued $282,000, 7%, 15-year bonds on December 31, 2021, for $270,720. Interest is payable annually on December 31. Sunland uses the straight-line method to amortize bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) (b) (c) The issuance of the bonds. The payment of interest and the discount amortization on December 31, 2022. The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. No. Date Account Titles and Explanation Debit Credit (b)