Homework: Week Seven: Chapter 11: Exercises Save ourse Home Score: 0.21 of 1 pt 5 of 8 (5 complete HW Score: 47.31%, 3.78 of 8 pts alendar E14-18 (similar to) Question Help Kellerman Company purchased a building and land with a fair market value of $600,000 (building, $450,000 and land, $150,000) on January 1, 2016. Keterman signed a 30-year, 13% mortgage payable. Kellerman will make monthly payments of $6,637 20. Requirements 1. Journalize the mortgage payable issuance on January 1, 2016 (explanations are not required) 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2016 round to two decimal places) 4 Joumalize the second payment on February 20, 2016 round to two decimal places) Incorrect 10/11 Debit Credit Date 2016 Jan 1 Accounts Building Land Mortgage Payable 450,000.00 150,000.00 800,000.00 Requirement 2. Prepare an amortization schedule for the first two payments (Round all numbers to the nearest cant) Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 1/1/2016 1/31/2016 2/28/2016