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Need help with this question and the part 3/4 of this question. Thank you. Please answer the last two! 1. Journalize the mortgage payable issuance

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Need help with this question and the part 3/4 of this question. Thank you. Please answer the last two!

1. Journalize the mortgage payable issuance on January 1, 2018. 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. Keel Company purchased a building and land with a fair market value of $475,000 (building, $250,000 and land, $225,000) on January 1, 2018. Keel signed a 25-year, 8% mortgage payable. Keel will make monthly payments of $3,666.13. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Requirement 1. Journalize the mortgage payable issuance on January 1, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2018 Jan. 1 Land 225,000.00 Building 250,000.00 Mortgage Payable 475,000.00 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 1/1/2018 $ 475,000.00 1/31/2018 $ 475,000.00 $ 499.46 $ 3,166.67 $ 3,666.13 474,500.54 2/28/2018 474,500.54 502.82 3163.3 3,666.13 473997.71

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