eyad zahra BUSI 1A Sec 8342 Sum 20 Financial Act . ONLINE es Save Homework: Chapter 12&13 homework Score: 0 of 1 pt 2 of 14 (5 complete) HW Score: 18.75%, 2.63 of 14 pts E12-19 (similar to) Question Help Kessel Company purchased a building and land with a far market value of $450,000 (building. $275,000 and land, S175,000) on January 1, 2018 Kessel signed a 20-year, 7% mortgage payable Kessel will make monthly payments of $3,480 85 Round to two decimal places Explanations are not required for journal entries Read the requirements Requirement 1. Journalize the mortgage payable suence on January 1, 2018. (Record debts test, then credits Exclude explorations from any jumal entries) Date Accounts Credit 2018 Building | Land Mortgage Payable Debit Work rent sa empts is home A Requirements - X 1. Journalize the mortgage payable issuance on January 1, 2018 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2018. 4. Journalize the second payment on February 28, 2018 Print Done