\begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline c....
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Accounting
\begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline c. 31,2020 & Cash & 1000000 & \\ \hline & Mortgage Payable & & 10000 \\ \hline \multirow[t]{3}{*}{=31,2021} & Interest Expense & 80000 & \\ \hline & Mortgage Payable & 70000 & \\ \hline & Canh & & 1500 \\ \hline \multirow[t]{3}{*}{31.2022} & Interest Expense & 93000 & \\ \hline & Mortgage Payable & 57000 & \\ \hline & Cash & & 150C \\ \hline \end{tabular} Indicate the amount of mortgage note payable to be reported as a current liability and as a long-term liability at December 31. 2022. (Round onswers to 0 decimal places, es. 15,250.) Current liability Long-term liability Lucky Company borrowed $1,000,000 on December 31,2020 , by issuing $1,000,000,8% mortgage note payable. The terms call for annual installment payments of $150,000 on December 31 . Prepare the journal entries to record the mortgage loan and the first two installment payments. (Round answers to 0 decimal places. es. 15,250. Credit account titles are outornatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tittes and enter ofor the amounts.)
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