Suppose Hard Metal purchases land and a building for $198,000 on October 1, 2020. Hard Metal obtains a mortgage at an annual rate of 7 percent and will make monthly payments for 15 years. Using the instalment payment schedule, joumalize the entry for the second mortgage payment, which is made on December 1, 2020. (Click the icon to view the instalment payment schedule.) Complete the journal entry below. (Record debits first, then credits. Exclude explanations from journal entries. Round amounts to the nearest dollar.) Journal Entry Date Accounts and Explanations Dec. 1 Debit Credit Instalment Payment Schedule Partial Mortgage Instalment Payment Schedule Blended Mortgage Payments A B Blended 7% Interest D Mortgage Monthly for the Month Mortgage (Preceding D x Period Payment 0.07/12) Reduction in Principal (A-B) Balance (Preceding D-Current C) Oct 1, 2020 Nov 1, 2020 $ 1,780 S 1,155 $ 625 S 198,000 197,375 Dec 1, 2020 1,780 1,151 629 196,746 Jan 1, 2021 1,780 1,148 632 198,114 Print Done - X