no 5. All the question are from same project

2. HEMI took out a mortgage of $150,000,000 on September 1, 2019 to purchase the land and building (noted in the Capital Assets section above). This amount has been recorded in the Mortgage Payable general ledger account. Accountant has recorded the blended interest and principal monthly payments in the Interest Expense general ledger account. You have been provided with the following amortization schedule for the mortgage payable: Opening Interest Closing Month balance expense Payment balance September, 2019 150,000,000 525,000 1,532,976 148,992,024 October, 2019 148,992,024 521,472 1,532,976 147,980,520 November, 2019 147,980,520 517,932 1,532,976 146,965,476 December, 2019 146,965,476 514,379 1,532,976 145,946,879 Total 2,078,783 6,131,904 The Accountant wants you to complete the following: a. Using the above amortization schedule, calculate the total principal reduction in the 2019 fiscal year (show your calculations). b. Provide an adjusting journal entry to move the amount you computed in Part (a) above from Interest Expense to reduction in Mortgage Payable. c. $12,500,000 of mortgage principal will be paid in the next 12 months. Provide an adjusting journal entry to move this amount to Current Portion of Mortgage Payable account