Kaman Company purchased a building and land with a fair market value of $575,000 (building, $350,000...

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Kaman Company purchased a building and land with a fair market value of $575,000 (building, $350,000 and land, $225,000) on January 1, 2018. Kaman signed a 25-year, 15% mortgage payable. Kaman will make monthly payments of $7,364.78. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Date 2018 Jan. 1 Land Building Accounts Debit Credit Mortgage Payable 225,000.00 350,000.00 575,000.00 Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Beginning Balance 1/1/2018 1/31/2018 575,000 2/28/2018 Principal Payment Interest Expense Total Payment Ending Balance Kaman Company purchased a building and land with a fair market value of $575,000 (building, $350,000 and land, $225,000) on January 1, 2018. Kaman signed a 25-year, 15% mortgage payable. Kaman will make monthly payments of $7,364.78. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Date 2018 Jan. 1 Land Building Accounts Debit Credit Mortgage Payable 225,000.00 350,000.00 575,000.00 Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Beginning Balance 1/1/2018 1/31/2018 575,000 2/28/2018 Principal Payment Interest Expense Total Payment Ending Balance