Exercise 15-10 Dreiling Company borrowed $346,500 on January 1, 2017, by issuing a $346,500, 8% mortgage note payable. The terms call for annual installment payments of $38,500 on December 31 Your answer is partially correct. Try again Prepare the journal entries to record the mortgage loan and the first two installment payments. (Round answers to 0 decimal places, e.g 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Acceunt Titles and Explanatien Jan. 1, 2017 Mortgage Payable 3465 Dec. 31, 2017 Interest Expense 277 Payable 10 Cash Dec. 31, 2018 Interest Expense Payable 10780 SHOw LEST Your answer is incorrect. Try again. Indicate the amount of mortgage note payable to be reported as a current liability and as a long-term liability at December 31, 2017 (Round answers to 0 decimal places, e.g. 15,250.) Current liablity 12998 Long-term liability 305782 SHOW LEST