A company purchased equipment on July 1, 2020 and signed a 8 year mortgage note for $105,000 at 5% interest. The note will be paid in equal installments beginning July 1, 2021. On July 1, 2021, the journal entry to record the first installment payment will include a Group of answer choices credit to cash $105,000 debit to interest expense for $5,250 debit to interest expense for $657 credit to mortgage payabe for $21,243