On January 1, 2018, Gadsby Cabinetry Company Purchases $300,000 of Equipment

On January 1, 2018, Gadsby Cabinetry Company purchases $300,000 of equipment by paying $50,000 in cash and signing a 10-year mortgage note at 13% for the balance. Gadsby will make yearly payments of $46,072. The amortization schedule for the first five payments is provided.
$$\begin{array} { | l | r | r | r | r | r | } \hline & \begin{array} { c } \text { Beginning } \\\text { Balance }\end{array} & \begin{array} { c } \text { Principal } \\\text { Payment }\end{array} & \begin{array} { c } \text { Interest } \\\text { Expense }\end{array} & \begin{array} { c } \text { Total } \\\text { Payment }\end{array} & \begin{array} { c } \text { Ending } \\\text { Balance }\end{array} \\\hline \mathrm {0 } 1 / 01 / 2018 & & & & & \$ 250,000 \\\hline \mathrm { 0 } 1 / 01 / 2019 & \$ 250,000 & \$ 13,572 & \$ 32,500 & \$ 46,072 & 236,428 \\\hline \mathrm { 0 } 1 / 01 / 2020 & 236,428 & 15,336 & 30,736 & 46,072 & 221,092 \\\hline \mathrm { 0 } 1 / 01 / 2021 & 221,092 & 17,330 & 28,742 & 46,072 & 203,762 \\\hline \mathrm { 0 } 1 / 01 / 2022 & 203,762 & 19,583 & 26,489 & 46,072 & 184,179 \\\hline \mathrm { 0 } 1 / 01 / 2023 & 184,179 & 22,129 & 23,943 & 46,072 & 162,050 \\\hline\end{array}$$ Prepare the journal entries for the purchase of the equipment and for the January 1, 2019 mortgage payment. Omit explanations.