Kanta Company purchased a building and land with a fair market value of $$400,000($building$,$ $$250,000$ and land, $$150,000)$ on January $1,2024.$ Kanta signed a $15-$year,$5\%$ mortgage payable. Kanta will make monthly payments of $$3,163\mathrm{.}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 debits first, then credits. Exclude explanations from any journal entries.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[2024,,,],[$Jan$.1,$Building,$250,000\mathrm{.}00,],[,$Land,$150,000\mathrm{.}00,],[,$Mortgage Payable,,$400,000\mathrm{.}00$