Kaler Company purchased a building and land with a fair market value of $475,000 (building, $325,000 and land, $150,000) on January 1, 2024. Kaler signed a 25-year, 8% mortgage payable. Kaler will make monthly payments of $3,666.13. 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 journal entries.) Date Accounts Debit Credit 2024 Jan. 1 Land Building Mortgage Payable 150,000.00 325,000.00 475,000.00 Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Beginning Balance Principal Payment Interest Expense Total Payment Ending Balance 1/1/2024 1/31/2024 2/28/2024 475000 474500.47 499.5 3166.6 3666.13 475000 474500.47 3666.13