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hool (15 points) On 31 October 2017, Seldon Company incurs a 30-year $2,400,000 mortgage liability in conjunction with the purchase of a hotel. This mortgage

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hool (15 points) On 31 October 2017, Seldon Company incurs a 30-year $2,400,000 mortgage liability in conjunction with the purchase of a hotel. This mortgage is payable in equal monthly installments of $24,687 which include interest computed at an annual rate of 12 %. The first monthly payment is made on 30o November 2017. This mortgage is fully amortizing over 360 months. Complete the amortization table for the first four payments by entering the correct dollar amounts in the blank spaces provided. (Round to the nearest dollar). (10 points) Reduction in Unpaid Balance Unpaid Balance Interest Interest Expense Payment Date Monthly Payment Period Issue date 2 3 4 b. Record the first payment in the general journal. (5 points) Credit Debit Account Titles and Explanation Date

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