On December 31, 2024, Samuels Bakery Company purchased $700,000 of property by paying $100,000 in cash and signing a 10-year mortgage at 12% for the balance. The amortization schedule shows that the company will pay $106,191 per year. What is the journal entry for the first yearly payment on December 31, 2025? A. Mortgages Payable Interest Expense Cash 60,000 106,191 166,191 178,191 B. Mortgages Payable Interest Expense Cash 72,000 106,191 O C. Mortgages Payable Interest Expense Cash 34,191 72,000 106,191 O D. Mortgages Payable Interest Expense Cash 60,000 72,000 132,000