Homework: Chapter 12 Homework: EF12-18, EF12-19, EF12-24, EF Question 2, EF12-19 (si... Part 2 of 4 HW Score: 16.09%, 2.41 of 15 points Points: 0.41 of 2 Save Kemmer Company purchased a building and land with a fair market value of $550,000 (building, S450,000 and land, S100,000) on January 1, 2024. Kemmer signed a 20-year, 6% mortgage payable. Kemmer will make monthly payments of $3.940.37. Round to two decimal places. Explanations are not required for journal entries Read the requirements Requirement 1. Journalize the mortgage payable issuance on January 1, 2024. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2024 Jan. 1 450,000.00 Building Land 100,000.00 Mortgage Payable 550,000.00 Requirements 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 1/1/2024 550000 1/31/2024 550000 2/28/2024 1. Journalize the mortgage payable issuance on January 1, 2024. 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2024. 4. Journalize the second payment on February 28, 2024. Print Done Help me solve this Etext pages Get more help Clear all Check answer Type here to search c 3 a @ 77F Mostly cloudy (x 2:26 PM 11/2/2021 C 710