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Munro Company purchased a bullding and land with a fair value of $600,000 (bulding. $475,000 and land, $125,000 ) on January 1, 2025. Munro Company signed a 30 -year, 13$ morlpage payab Munro Company witl make monthly payments of $6,637.20. Round to two decimal places. Explanations are not required for joumal entries. Bead the rovitements. Requirement 1, Joumalize the mortgage payable issuance on January 1,2025. (Record debits first, then credits. Exclude explanations from any joumal entries) Requirement 2. Prepare un amortuation schedule for the fint two payments. (Rount all numbers to the nearest cent) Requiremants 1. Jounake the mortgage payabie isauance on January 1,2025 2. Prepare an amortization schedule for the first two payments. 2. Joumake the first payment on January 31, 2025 4. Joumalze the second poyment on February 28, 2025 Munro Company purchased a bullding and land with a fair value of $600,000 (bulding. $475,000 and land, $125,000 ) on January 1, 2025. Munro Company signed a 30 -year, 13$ morlpage payab Munro Company witl make monthly payments of $6,637.20. Round to two decimal places. Explanations are not required for joumal entries. Bead the rovitements. Requirement 1, Joumalize the mortgage payable issuance on January 1,2025. (Record debits first, then credits. Exclude explanations from any joumal entries) Requirement 2. Prepare un amortuation schedule for the fint two payments. (Rount all numbers to the nearest cent) Requiremants 1. Jounake the mortgage payabie isauance on January 1,2025 2. Prepare an amortization schedule for the first two payments. 2. Joumake the first payment on January 31, 2025 4. Joumalze the second poyment on February 28, 2025

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