k Company purchased a building and land with a fair market value of 425,000(building, 275,00 and land 150,000, ) on January 1, 2016. signed a -year, 9% mortgage payable. will make monthly payments of 3,419.65 .

Requirements 2. Prepare an amortization schedule for the first two payments.

3. Journalize the first payment on January 31, 2016(round to two decimal places).

4. Journalize the second payment on February 29, 2016 (round to two decimal places).