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Oriole Company receives $336,000 when it issues a $336,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The

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Oriole Company receives $336,000 when it issues a $336,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual installment payments of $56,000 on December 31 Prepare an amortization schedule of a mortgage note for two years Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date $ $ 12/31/23 12/31/24 repare the journal entry to record the mortgage loan. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Credit Dec 31, 2022 Date Debit Prepare the journal entries to record the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Debit Account Titles and Explanation First Installment Payment Credit Dec 31, 2023 1 Second Installment Payment Dec 31, 2024

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