Monpi Ltd wish to expand its operations by negotiating the purchase of land and buildings for K$1000000.$ Under the terms of the purchase, the company paid the seller a deposit of K$203520$ and signed a $14\%$ mortgage deed which required $100$ quarterly payments of K$28800$ due each quarter commending on the $15$ September $2022.$ The company purchased the land and building and paid the deposit on $16$ June $2022.$ The company's financial year ends on $31$ December.