Help Needed

(2020/2021 Winter Term NAIT took out a mortgage of $150,000,000 on September 1, 2020 to build the Productivity and innovation Centre PIG AT December 31, 2020. NAIT has recorded this amount as Mortgage payable and provided you with the following mortgage at schedule Opening Closing balance at the balance at the beginning of the interest end of the Month month expense Payment month September, 2020 $150.000.000 $525.000 $1.532.976 $148.992.024 October, 2020 148,992.024 521,472 1.532.976 147.980.520 November, 2020 147.980,520 517,932 1.532.976 146,965,476 Pecember, 2020 146.965.476 514,379 1.532,976 145,946.879 etal $2,078,783 $6,131,904 1. Provide a journal entry to record the September mortgage payment. (3 marks) 2. If $10 million of the mortgage principal will be paid in the next 12 months after NAIT's December 31 year-end, he payable is long-term liability? (2 marks) . Required #1 (2020/2021 Winter Term NAIT took out a mortgage of $150,000,000 on September 1, 2020 to build the Productivity and innovation Centre PIG AT December 31, 2020. NAIT has recorded this amount as Mortgage payable and provided you with the following mortgage at schedule Opening Closing balance at the balance at the beginning of the interest end of the Month month expense Payment month September, 2020 $150.000.000 $525.000 $1.532.976 $148.992.024 October, 2020 148,992.024 521,472 1.532.976 147.980.520 November, 2020 147.980,520 517,932 1.532.976 146,965,476 Pecember, 2020 146.965.476 514,379 1.532,976 145,946.879 etal $2,078,783 $6,131,904 1. Provide a journal entry to record the September mortgage payment. (3 marks) 2. If $10 million of the mortgage principal will be paid in the next 12 months after NAIT's December 31 year-end, he payable is long-term liability? (2 marks) . Required #1