Purchased land and a building from Gretchen Northway in exchange for at par. The building is mortgaged for 20 years at 60%, and there is accursed interest of $5, 200 on the mortgage note at the time of the land is to be priced at and the building at $225,000 and that Gretchen Northway's equity will be exchanged for stock at par. The corporation agreed to the assume responsibility for paying the mortgage note and the accrued interest. Journalize the entries to record the transactions