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Spirit World Corp. borrowed $500,000 in the form of a mortgage on January 1, 2020, to finance the purchase of a small warehouse. The mortgage

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Spirit World Corp. borrowed $500,000 in the form of a mortgage on January 1, 2020, to finance the purchase of a small warehouse. The mortgage rate is 5 percent, the term is 20 years, and semi-annual payments of $19,918 are made on January 1 and July 1. The accompanying chart shows the first five mortgage payments. E (Click the icon to view the mortgage payment schedule.) Required Journalize the establishment of the mortg Data Table Journalize the establishment of the morto le journal entry) - X Ja Date Account Jan 1 Semi- annual Interest Interest Beginning Blended Expense Principal Period Balance Payment 2.5% Payment Jan 1, 2020 Jul 1, 2020 $ 500,000 $ 19,918 $ 12.500 S 7,418 Jan 1, 2021 492.582 19,918 12315 7.603 Jul 1, 2021 484,979 19,918 12. 124 7.794 Jan 1, 2022 477.185 19.918 11.930 7,988 Jul 1. 2032 489.107 19.918 11,730 8188 Ending Balance $ 500.000 492,582 484,979 477185 469,197 461,009 Choose from any list or enter any numb

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