Question: Can you please help me to solve this question? On January 1, 2020 a company takes out a 5-year mortgage on a new property in
Can you please help me to solve this question? 
On January 1, 2020 a company takes out a 5-year mortgage on a new property in the amount of $550,000 at an annual interest rate of 6%. There will be a fixed monthly payment payable at the end of each month that will include both interest and principal. The foed monthly payment payable is $10,633,04 Calculate the amount of interest and principal for the first month's payment. (Round answers to 2 decimal places, es 15.25.) Interest $ Principal List of Accounts --/2 Question Part Score Record the journal entries for the first 2 months payments (Round answers to 2 decimal places, eg. 15.25. Credit account tities 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 for the amounts) Debit Credit Account Titles and Explanation 1st Payment Record the journal entries for the first 2 months payments. (Round answers to 2 decimal places, eg, 15.25. 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 for the amounts.) Account Titles and Explanation Debit Credit 1st Payment 2nd Payment List of Accounts
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