K Ethel Company purchased a building with a market value of $360,000 and land with a market value of $35,000 on January 1, 2024 Ethel Company paid $20,000 cash and signed a 15-year, 6% mortgage payable for the balance. Requirements 1. Journalize the January 1, 2024, purchase 2. Journalize the first monthly payment of $3,164 on January 31, 2024 (Round to the nearest dollar) Requirement 1. Journalize the January 1, 2024, purchase (Record debits first, then credits Select explanations on the last line of the journal entry) Accounts and Explanations Date 2024 Jan. 1 Date Requirement 2. Journalize the first monthly payment of $3,164 on January 31, 2024 (Round to the nearest dollar) (Record debits first, then credits. Select explanations on the last line of the journal entry) Credit Accounts and Explanations 2024 Debit Jan. 31 Credit Debit

for tew balince. Requirements 1. Jurnatite tho Januwy 1, 2024 purchase 2. Joumatre me frst monthir payment of 53,164 on January 31, 2024 (Racund to the segrest dollar)