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On January 1, 2024, Alcatraz Company purchases a building for $900,000, signing a 5%,20-year mortgage. Installment payments of $5,939.60 are due at the end of

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On January 1, 2024, Alcatraz Company purchases a building for $900,000, signing a 5%,20-year mortgage. Installment payments of $5,939.60 are due at the end of each month, with the first payment due on January 31, 2024. Required: 1. 2. \& 3. Record the issuance of the mortgage installment and the first two monthly mortgage payments. 4. If total payments over the 20 years are $1,425,504 ( $5,939,60240 monthly payments), how much of this is interest expense and how much is actual payment of the loan? Journal entry worksheet 3 Record the purchase of the building with the issuance of a note payable on January 1, 2024. Note: Enter debits before credits. Journal entry worksheet Record the first monthly mortgage payment on January 31, 2024. Note: Enter debits before credits. Journal entry worksheet Record the second monthly mortgage payment on February 29, 2024. Note: Enter debits before credits. If total payments over the 20 years are $1,425,504($5,939.60240 monthly payments), how much of this is interest expense and how much is actual payment of the loan

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