Flatley Inc. made a purchase on October 1, 20x7 of a new building for $853,000. They put 25% down and took out out at 30 year, 8.25% mortgage on the balance. Flatley had the building and land appraised and was given a value on a value on the building of $785,000 and on the land $95,000. Appraised building value, Appraised land value, Total appraised value, % down on mortgage, Dollar amount down, Amount of loan, Length of loan in year, Number of loan payments, Interst rate, The monthly mortgage payment, Chart showing the payments for the next 12 months, Record the first three necessary journal entries.