Fully amortizing installment note pavable On October 31, 2009, Seldon Company incurs a 30-year (360 months) $600,000 mortgage liability. This mortgage is payable in equal monthly installments of $6,485, which include interest at an annual rate of 12%. The first monthly payment is made on November 30, 2009 Complete the amortization table for the first two payments by entering the correct dollar amounts in the blank spaces provided. In addition, answer the questions which follow 1. Payment MonthlyInterest Repavment ofUnpaid Date Issuance Nov. 30 Dec. 31 Payment Expense Balance $600,000 Principal S6,485 S6,485 With respect to this mortgage (loan), Seldon's 2009 income statement includes interest expense of and Seldon's balance sheet at December 31, 2009, includes a total liability for this Do not separate into current and long-term portions.) mortgage of The total monthly cash payments Seldon will make over the 30-year life of the mortgage amount to Over the 2-year life of the note, the amount Ronald will pay for interest amounts to $