Homework: Ch 14 Homework A-Graded 1, SF 14- 1 (similar to) Part 1 of 2 64.61%, 60.73 of 94 points O Points: 0 of 10 Save On January 1, 2024. Leng - Fem signed a $720 000, 12-year 6% note. The loan required Leng - Fern to make annual payments on December 31 of $60,000 principal plus interest Requirements 1. Journalize the issuance of the note on January 1, 2024 2. Journalize the first note payment on December 31, 2024 Requirement 1. Journalize the issuance of the note on January 1, 2024. (Record debits first, then credits Select explanations on the last line of the journal entry) Debit Credit Date Accounts and Explanations 2024 Jan 1 E Homework: Ch 14 Homework A-Graded @ 12, SF14 2 (similar to) Part 1 of 2 64.61%, 60.73 of 94 points O Points: 0 of 10 Save Ethel Company purchased a building with a market value of $345.000 and land with a market value of $45,000 on January 1, 2024 Ethel Company paid $50,000 cash and signed a 12-year 18% mortgage payable for the balance Requirements Journalize the January 1, 2024, purchase 2. Journalize the first monthly payment of $5,777 on January 31, 2024 (Round to the nearest dollar) 1. Requirement 1. Journalize the January 1, 2024 purchase (Record debits first then credits Select explanations on the last line of the joumal entry) Date Accounts and Explanations Debit Credit 2024 Jan. 1