Lucky Company borrowed $1,000,000 on December 31,2020 , by issuing $1,000,000,8% mortgage note payable. The terms call for annual installment payments of $150,000 on December 31. 2 Your answer is partially correct. Prepare the journal entries to record the mortgage loan and the first two installment payments. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Mortgage Payable Mortgage Payable Interest Expense Cash Mortgage Payable Interest Expense Cash Debit Credit 1000000 1000000 150000 850000 1000000 \begin{tabular}{|l|} \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline \\ \hline \\ \\ \end{tabular} Indicate the amount of mortgage note payable to be reported as a current liability and as a long-term liability at December 31. 2022. (Round answers to O decimal places, eg. 15,250.) Current liability Long-term liability