Keel Company purchased a building and land with a fair market value of $600,000 (building, $500,000 and land, $100,000) on January 1, 2018. Keel signed a 30-year, 13% mortgage payable. Keel will make monthly payments of $6,637.20. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Beginning Balance Principal Payment Interest Expense Total Payment Ending Balance 1/1/2018 1/31/2018 600000 6637.20 500