K Submit test quation! 1 point(s) possible On December 31, 2024, Samuels Bakery Company purchased $550,000 of property by paying $100,000 in cash and signing a 10-year mortgage at 12% for the balance. The amortization schedule shows that the company will pay $79,643 per year. What is the joumal entry for the first yearly payment on December 31, 20257 OA Mortgages Payable Interest Expense Cash 45,000 54,000 99,000 OB. Mortgages Payable Interest Expense Cash 133,643 54,000 79,643 OC. Mortgages Payable 45,000 Interest Expense 79,643 Cash 124,643 OD. Mortgages Payable 25,643 Interest Expense 54,000 Cash 79,643