Kelly Company purchased a building and land with a fair market value of $600,000 (building, $450,000 and land, $150,000) on January 1, 2016. Kelly signed a 30-year 13% mortgage payable. Kelly will make monthly payments of $6, 637.20. Requirements Journalize the mortgage payable issuance on January 1, 2016 (explanations are not required). Prepare an amortization schedule for the first two payments. Journalize the first payment on January 31, 2016 (round to two decimal places). Journalize the second payment on February 29, 2016 (round to two decimal places). Requirement Journalize the mortgage payable issuance on January 1, 2016 (explanations are not required). (Record debits first, then credits. Exclude explanations from any journal entries.) Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.)