The first payment is due on August 1 and the second payment is due on September 1. Brandon is a dedicated accountant, so he records all of his household transactions in debit-and-credit format. The journal entry to record the FIRST payment, on August 1, includes: A DEBIT to Interest Expense of $298.65 A DEBIT to Mortgage Payable of $1,498.51 A DEBIT to Mortgage Payable of $298.65 A DEBIT to Mortgage Payable of $1,500.00