HW 6: Due date November 13, 2019 ) On January 1, 2021, California Financial purchases a building for S900,000, signing a 5%, 20- year mortgage. Installment payments of $5,939.60 are due at the end of each month, with the first payment due on January 31, 2021. Required: 1. Record issuance of the mortgage installment note on January 1, 2021 2. Record the first monthly mortgage payment on January 31, 2021. 3. Record the second monthly mortgage payment on February 28, 2021 4. Total payments over the 20 years are $1,425,504 (S5,939.60 x 240 monthly payments). How much of this is interest expense and how much is actual payment of the loan? 2) A company issues 7%, 10-year bonds with a face amount of S80,000 for S85,951 on January 1,2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31 1. Record the bond issuc. 2. Record the first interest payment on June 30, 2021