On January 1, 2024, Thompson Company purchased $350,000 of property by paying $100,000 in cash and signing a 10 - year mortgage note at 13% for the balance. Thompson will make yearly payments based on the following amortization schedule Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 01/01/2024 $250,000 01/01/2025 $250,000 $13,572 $32,500 $46,072 236,428 01/01/2026 236,428 15,336 30,736 46,072 221,092 01/01/2027 221,092 17,330 28,742 46,072 203,762 01/01/2028 203,762 19,583 26,489 46,072 184,179 01/01/2029 184,179 22,129 23,943 46,072 162,050 What is the journal entry for the first payment? O A. Cash 46,072 Interest Expense 30,736 Mortgages Payable 15,336 O B. Cash 46,072 Interest Expense 30,736 Mortgages Payable 76.808 O C. Mortgages Payable 15,336 Interest Expense 30,736 Cash 30.736 O D. Mortgages Payable 13,572 Interest Expense 32,500 Cash 46,072