Kaman Company purchased a building and land with a far market value of $400,000 (building, $250,000 and sand $150,000) on January 1, 2024 Kaman signed a 15-year, 5% mortgage payable Kamen will make monthly payments of $3,163.17 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 debes fest, then creats Exclude explanations from any journal entoes) Date 2024 Accounts Debit Credit Jan 1 Building Land Mortgage Payable 250 000 00 150 000 00 400,000.00 Requirement 2. Prepare an amortization schedule for the first two payments (Round all numbers to the nearest cont.) Beginning Balance Principal Payment 1/1/2024 1/31/2024 400,000.00 2/28/2024 400,000 00 Interest Expense Total Payment 3,103 17 3,163 17 Ending Balance 400,000 00