Crane Co$.$ receives $\backslash (\backslash$$ $222,000\backslash )$ when it issues a $\backslash (\backslash$$ $222,000,10\backslash \%\backslash ),$ mortgage note payable to finance the construction of a building at December $31,2022.$ The terms provide for annual installment payments of $\backslash$$$32,000$ on December $31.$

$-$ Your answer is partially correct.

Prepare the journal entries to record the mortgage loan and the first two installment payments. $($List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter O for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Mortgage Payable

Interest Expense

Mortgage Payable

Interest Expense

Mortgage Payable