two decimal places. Explanations are not required for journal entries. Read the

Kelly Company purchased a building and land with a fair market value of S475,000 (building, S325,000 and land; $150,000) on January 1, 2024 Kelly signed a 25-year; 8% mortgage payable Kelly will make monthly payments of $3,666.13 ROL two decimal places. Explanations are not required for journal entries. Read the reguirements. Requirement 1 . Journalize the mortgage payable issuance on January 1 2024 (Record debits first, then credits Exclude explanations from any journal entries) Date 2024 Jan 1 Accounts Building Land Mortgage Payable Debit Credit 325;ooo.oo 150000.00 475,000.00 Requirement 2. Prepare an amortization schedule for the first frevo payments. (Round all numbers to the nearest cent.) Beginning Balance 475,000 Principal Payment Interest Expense Total Payment Ending Balance 1/1/2024 1/31/2024 2/28/2024