K Kaman Company purchased a building and land with a fair market value of $425,000 (building,...

 

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K Kaman Company purchased a building and land with a fair market value of $425,000 (building, $250,000 and land, $175,000) on January 1, 2024. Kaman signed a 30-year, 9% mortgage payable. Kaman will make monthly payments of $3,419.65. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Requirement 1. Journalize the mortgage payable issuance on January 1, 2024. (Record debits first, th Date 2024 Jan. 1 Accounts Debit Credit Requirements Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to t 1. Journalize the mortgage payable issuance on January 1, 2024. 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2024. 4. Journalize the second payment on February 28, 2024. Beginning Balance 1/1/2024 1/31/2024 Principal Payment Interest Expense Total Payment Ending Balance Print Done 2/28/2024 Requirement 3. Journalize the first payment on January 31, 2024. (Enter amounts to the nearest cent. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2024 = Time Remaining: 02:10:03 Next K Kaman Company purchased a building and land with a fair market value of $425,000 (building, $250,000 and land, $175,000) on January 1, 2024. Kaman signed a 30-year, 9% mortgage payable. Kaman will make monthly payments of $3,419.65. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Requirement 1. Journalize the mortgage payable issuance on January 1, 2024. (Record debits first, th Date 2024 Jan. 1 Accounts Debit Credit Requirements Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to t 1. Journalize the mortgage payable issuance on January 1, 2024. 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2024. 4. Journalize the second payment on February 28, 2024. Beginning Balance 1/1/2024 1/31/2024 Principal Payment Interest Expense Total Payment Ending Balance Print Done 2/28/2024 Requirement 3. Journalize the first payment on January 31, 2024. (Enter amounts to the nearest cent. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2024 = Time Remaining: 02:10:03 Next