Kemmer Company purchased a building and land with a fair market value of $475 000 bulding. $275,000 and land $200,000 on January 1, 2018. Kemmer signed a 25-year 8% mortgage payable Kemmer will make monthly payments of $3,666.13. 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, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Debit Date 2018 Jan. 1 Land Account:s Credit 200000 Building Mortgage Payable 275000 475000 Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) BeginningPrincipal Interest Total Ending Balance Payment Expense Payment Balance 1/1/2018 475000 1/31/2018 475000 Beginning PrincipalInterest Total Ending Balance Payment Expense Payment Balance 1/1/2018 475000 312018 475000 2/28/2018 Requirement 3. Journalize the first payment on January 31,2018. (Enter amounts to the nearest cent. Record debits first,then credits. Exclude explanations from any journal entries) Debit Cred Date 2018 Jan. 31 Accounts Requirement 4. Journalize the second payment on February 28, 2018. (Enter amounts to the nearest cent. Record debits first, then credits. Exclude explanations from any journal entries.) Date 2018 Feb. 28 Accounts Debit Credit