On 31 October 2020, Blissful Corporation incurs a 30-year 600,000 mortgage liability in conjunction with the purchase of a hotel. This mortgage is payable in equal monthly installments of 6,485 which include interest computed at an annual rate of 12%. The first monthly payment is made on 30 November 2020. This mortgage is fully amortizing over 360 months.

Instructions: (1) Complete the amortization table for the first four payments by entering the correct euro amounts in the blank spaces provided. (20 points) Round to the

nearest full number.

Interest	Payment	Monthly	Interest	Reduction in	Unpaid
Period	Date	Payment	Expense	Principal	Balance
Issue date
1
2
3
4

2 Record the first two payments in the general journal. (10 points)

Date	Account Titles and Explanation	Debit	Credit

3. What is the aggregate amount paid by Blissful Corporation over the 30-year life of the mortgage? What is the total amount paid for interest charges? (10 points)