Wildhorse Co. receives $372,000 when it issues a $372,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual installment payments of $62,000 on December 31 (11) Your answer is correct Prepare an amortization schedule of a mortgage note for two years. Annun Interest Interest Reduction Period Payment Expense of Principal Issue date Principal Balance 172,000 12/31/23 62,000 37,200 4.100 347,200 12/31/24 13,000 34.730 27.70 119.920 WINT OF ACNTS WEB Prepare the journal entry to record the mortgage loan. (Credit account titles are automatically indented when amount to entered. Do not indent mama) Debit Date Account Tides and Explanation Dec 31, 2022 Cash 372.000 tudy 2000 Prepare the joumal entries to record the first two installment payments. (Credit account the restomatically indented when amouet is entered. Do not intent analy) Account this and Explanation Pirst installment Payment Date Det OW Dec 31, 2023 Second Instant Payment Dec 31, 2024