View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. Crane Company purchased a building on January 2 by signing a long-term $2616000 mortgage with monthly payments of $24000. The mortgage carries an interest rate of 10 percent. The entry to record the first monthly payment will include a debit to the Cash account for $24000. credit to the Mortgage Payable account for $24000. debit to the Interest Expense account for $21800. O credit to the Cash account for $21800. eTextbook and Media Save for Later