Homework: Ch 12 HW Score: 1.03 of 5 pts 11 of 14 (11 complete) HW Score: E12-18 (similar to) Kants Company purchased a building and land with a fair market value of $475,000 (building, $375,000 and land, S100,000) on January 1, 2016. Kanta signed a 25-year, 8% mortonge payable. Kanta wil make $3,666.13. Requirements 1. Journalize the mortgage payable issuance on January 1, 2016 (explanations are not required) 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2016 round to two decimal places). 4. Journalize the second payment on February 20, 2016 (round to two decimal places). Requirement 2. Prepare an amortization schedule for the first two payments (Round all numbers to the nearest cent) Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 1/1/2016 475000 1/31/2016 475000 3666.13 2/28/2016 3666.13 Enter any number in the edit Tields and then click Check Answer parts remaining Clear All Check MacBook Air 80 899 F3 0074 11 F2 * $ 4 % 5 & 7 2 3 6 8 9 0