Jonathan School 11/28/217:32 PM Homework: Cha... Question 1, EF14-19 (sl... HW Score: 5.17%, 1.03 of 20 points Save Part 2 of 4 Points: 1.03 of 5 Kelly Company purchased a building and land with a fair market value of $450,000 (building. $300,000 and land, $150,000) on January 1, 2024. Kelly signed a 20-year, 7% mortgage payable. Kelly will make monthly payments of $3,488.85. 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 Building Land Mortgage Payable 300,000.00 150,000.00 450,000.00 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 450,000.00 1/31/2024 2/28/2024 Clear all Final check Etext pages Calculator