td Ele Company purchased a building with a market value of Requirements 1. Journalize the January 1, 2018, purchase. 2. Journalize the first monthly payment of $4,932 on January 31, 2018. (Round to the nearest dollar) $320,000 and land with a market v alue of $50,000 on Jan ary 1, 2018 E e Company paid $45,000 cash and signed a 25-year, 18% mortgage payable for thr balance Requiremen t 1. Journalize the January 1, 2018, purchase. (Record debits first, then credits, Sele ct explanations on the last line of the journal entry.) Date 2018 Jan. 1 Accounts and Explanations Debit Credit Requirement 2. Journalize the first monthly payment of $4,932 on January 31, 2018. (Round to the nearest dollal)(, ecord debits first, then crecits Select explanations on the last line of the journal entry) Date 2018 Jan 31 Accounts and Explanations Debit Credit Choose from any list or enter any number in the input fields and then continue to the next