Kaler Company purchased a building and land with a fair market value of $600,000 (building, $375,000 and land, $225,000) on January 1, 2018 Kaler signed a 30-year, 13% mortgage payable. Kaler will make monthly payments of $6,637 20. Round to two decimal places. Explanations ar not required for journal entries. Read the requirements Requirement 1. Journalize the mortgage payable issuance on January 1, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2018 Jan. 1 375000 Building Land 225000 Mortgage Payable 600000 Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Interest Total Beginning Balance Principal Payment Ending Balance Expense Payment 1/1/2018 600000 1/31/2018 2/28/2018 Requirement 3. Journalize the first payment on January 31, 2018. (Enter amounts to the nearest cent Record debits first, then credits Exclude explanations from any journal entries Date Accounts Debit Credit 2018 Jan 31 Choose from any list or enter any number in the input fields and then continue to the next question Kaler Company purchased a building and land with a fair market value of $600,000 (building, $375,000 and land, $225,000) on January 1, 2018 Kaler signed a 30-year, 13% mortgage payable, Kaler will make monthly payments of $6,637 20. Round to two decimal places. Explanations are not required for journal entries Read the requirements Interest Total Beginning Balance Ending Principal Payment Expense Payment Balance 1/1/2018 1/31/2018 600000 2/28/2018 Requirement 3. Journalize the first payment on January 31, 2018. (Enter amounts to the nearest cent. Record debits first, then credits Exclude explanations from any journal entries.) Date Accounts Debit Credit 2018 Jan 31 Requirement 4. Journalize the second payment on February 28, 2018. (Enter amounts to the nearest cent. Record debits first, then credits Exclude explanations from any journal entries.) Date Accounts Debit Credit 2018 Feb. 28 Choose from any list or enter any number in the input fields and then continue to the next question Payment Expense Payment Balance 0 e tij al first the Requirements - 1. Journalize the mortgage payable issuance on January 1, 2018 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2018. 4. Journalize the second payment on February 28, 2018. Print Done Le til Tail lebits first Accounts Debit Credit