Your answer is partially correct. A company takes out a four-year, $1,200,000 mortgage on May 1 . The interest rate on the loan is 10% per year, and blended payments of $30,435 (including both interest and principal) are to be made at the end of each month. The following is an extract from the loan amortization table the bank provided the company with: (b) Prepare the journal entries to record the inception of the loan and the first two monthly payments. Ignore year-end accruals of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) eTextbook and Media List of Accounts Assistance Used Cash Crushing Equipment Deferred Income Tax Asset/Liability Deferred Tax Asset Income Tax Expense Income Taxes Payable Interest Expense Interest Payable Lease Liability Lease Obligation Lease Payment Long-Term Loan Payable Mortgage Payable No Entry Notes Payable Right-of-Use-Asset