Homework: Chapter 12 Score: 0.59 of 1 pt E12-19 (similar to) 9 of 11 (11 complete) Save HW Score: 64.74%, 7.12 of 11 pts Question Help * Kaler Company purchased a building and land with a fair market value of $425,000 (building, $225,000 and land, $200,000) on January 1, 2018. Kaler signed a 30-year, 9% mortgage payable. Kaler will make monthly payments of $3,419.65. 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, 2018 (Record debits first, then credits. Exclude explanations from any journal entries.) Date 2018 Jan. 1 Building Land Accounts Debit Credit 225,000.00 200,000.00 425,000.00 Mortgage Payable Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent) Beginning Balance Principal Payment Interest Expense Total Payment 1/1/2018 Ending Balance $425,000.00 1/31/2018 $425,000.00 $ 2/28/2018 424,767.85 3,185.76 232.15 $3,187.50 $3,419.65 233.89 3,419.65 424,767.85 424,533.96 Requirement 3. Journalize the first payment on January 31, 2018. (Enter amounts to the nearest cent Record debits first, then credits. Exclude explanations from any journal entries) Date 2018 Jan 31 Accounts Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer 1 part remaining Clear All Requirements 1. Journalize the mortgage payable issuance on January 1, 2018, 2. Prepare an amortization schedule for the first two payments 3. Journalize the first payment on January 31, 2018. 4. Journalize the second payment on February 28, 2018 Print Done Check An