Kessel Company purchased a building and land with a fair market value of $525,000 (building, $275,000 and land, $250,000) on January 1, 2024. Kessel signed a 15-year, 10% mortgage payable. Kessel will make monthly payments of $5,641.68. Round to two decimal places. Explanations are not required for journal entries. Read the requirements, Requirement 1. Joumalize the mortgage payable issuance on January 1, 2024. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2024 Jan. 1 Building 275,000.00 250,000.00 Land Mortgage Payable 525,000.00 Requirements Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 1/1/2024 $ 525,000.00 1/31/2024 $ 525,000.00 $ 1,266.68'$ 4,375.00 $ 5,641.68 2/28/2024 4,364.44 5,641.68 522,456.08 Requirement 3. Joumalize the first payment on January 31, 2024. (Enter amounts to the nearest cent. Record debits first, 1. Journalize the mortgage payable issuance on January 1, 2024. 2. Prepare an amortization schedule for the first two payments. Journalize the first payment on January 31, 2024. Journalize the second payment on February 28, 2024. 3. 523,733.32 4 523,733.32' 1,277.24 Date Accounts Debit Credit Print Done 2024 Jan. 31 Mortgage Payable Interest Expense Cash Choose from any list or enter any number in the input fields and then click Check