Eden Compary purchased a building with a market value of $295,000 and land with a marknt value of $65,000 on January 1,2024 Eden Company paid $40,000 cash and signed a 25-year, 12%4 mortgage payable for the balance. Requirements 1. Journalize the January 1, 2024, purchase 2. Journalize the first monthly payment of $3,370 on January 31, 2024. (Round to the nearest dollar) Requirement 1. Journalize the January 1, 2024, purchase. (Record debits first, then credits. Select explanations on the last lno of the journal entry)