KesselKessel

Company purchased a building and land with a fair market value of

$ 525 comma 000$525,000

(building,

$ 325 comma 000$325,000

and land,

$ 200 comma 000$200,000)

on January 1,

20182018.

KesselKessel

signed a

1515-year,

1010%

mortgage payable.

KesselKessel

will make monthly payments of

$ 5 comma 641.68$5,641.68.

Round to two decimal places. Explanations are not required for journal entries

1. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.)