On September 1, 2015, a company "I've read both chapters and solved all problems at hone to be prepared for this exam" (further in a text as Company) signed a 30-year, $547.000 mortgage note payable to Mifflinburg Bank and Trust in conjunction with the purchase of a bmilding and land. The mortgage note calls for interest atan annual rate oto percent. the note as fully amortizing over a period of 360 months with a 5.000 monthly payment. As a Company's treasury accountant you have to prepare an amortization table showing the allocation of monthly payments between interest and principal over the life of the loan.

a. Prepare this amortization table for the first three monthly installments-those due on October 1,

2015. November 1, 2015 and December 1, 2015. (Round amounts to the nearest dollar.)

b. Prepare journal entries to record the first two monthly payments on this mortgage.