Your answer is correct. Prepare the journal entries to record the mortgage loan and the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) ate Account Titles and Explanation Debit Credit 2020 309000 Cash 309000 Mortgage Payable 2020 Interest Expense 30900 Mortgage Payable 19100 50000 28990 2021 Interest Expense 21010 Mortgage Payable 50000 Cash Your answer is incorrect. Indicate the amount of mortgage note payable to be reported as a current liability and as a long-term liability at December 31, 2020. (Round answers to decimal places, eg. 15,250.). Current liability $ Long-term liability Solution List of Accounts