Kemmer Company purchased a building and land with a fair market value of $550,000 (building. $350,000 and land, $200,000) on January 1, 2018 Kemmer signed a 20-year, 6% mortgage payable. Kommer will make monthly payments of $3,940.37 Round to two decimal places Explanations are not required for journal entries Read the requirements Requirement 1. Journalize the mortgage payable issuance on a 2018. (Record debilitan.cundi d ade nations from anomena entries) Date Accounts Requirements A - X 2018 Jan 1 Building Land Mortgage Payable 1. Joumalize the mortgage payable issuance on January 1, 2018 2. Prepare an amortization schedule for the first two payments 3. Joumalize the first payment on January 31, 2018 4. Journalize the second payment on February 28, 2018 Requirement 2. Prepare an amortization schedule for the first to Beginning Print Principal Interest Done Balance Payment Expense 1/1/2018 550000 1/31/2018 550000 4176.79 236 42 3940 37546059 63 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) Choose from any list or enter any number in the input fields and then continue to the next question mer Company purchased a building and land with a fair market value of $550,000 (building, $350,000 and land, $200,000) on January 1, 2018 Kemmer sig Bar, 6% mortgage payable. Kemmer will make monthly payments of $3,940 37. Round to two decimal places. Explanations are not required for journal entrie d the requirements quirement 3. Journalize the first payment on January 31, 2018. (Enter amounts to the nearest cent Record debits first, then credits. Exclude explanations from journal entries) Accounts Debit Credit Requirements 2018 lan 31 4176.79 Mortgage Payable Interest Expense Cash 236 42 3940.37 1. Journalize the mortgage payable issuance on January 1, 20 2. Prepare an amortization schedule for the first two payments 3. Journalize the first payment on January 31, 2018 4. Journalize the second payment on February 28, 2018 equirement 4. Journalize the second payment on February 28, 2018. (Enter amounts to the om any journal entries) Print Done Date Accounts Debit Credit 2018 Feb 28 Mortgage Payable Interest Expense Cash Choose from any list or enter any number in the input fields and then continue to the next