Kahl Company purchased a building and land with a fair market value of 5525,000 (building, $350,000 and land, $175,000) on January 1, 2024. Kahl signed a 15-year, 10% mortgage payable. Kahi will make monthly payments of $5,641 68. 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 ouma entries.) Date Accounts Debit Credit 2024 Jant - Requirements 1. Journalize the mortgage payable issuance on January 1, 2024 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2024. 4. Journalize the second payment on February 28, 2024. Print Done