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Question 1 of 1 -/1 View Policies Current Attempt in Progress A company takes out...

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Question 1 of 1 -/1 View Policies Current Attempt in Progress A company takes out an eight year, $830,000 mortgage on September 1. The interest rate on the mortgage is 5% per year, and blended payments of $10,508 (including both interest and principal) are to be made at the end of each month. The following is an extract from the mortgage amortization table. Determine the missing amounts. (Round answers to decimal places, eg. 125.) Beginning Mortgage Balance $830,000 Payment Interest Payment 1 $ $3,458 Payment 2 822,950 10.508 (3) (5) 10.508 3,399 Payment 3 Payment 4 808,762 10,508 3,370 e Textbook and Media List of Accounts Prepare the journal entries to record the inception of the mortgage and the first two monthly payments. Ignore year end accruals of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record the inception of the mortgage) To record the first monthly payment) (To record the second monthly payment)

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