I have a project for school and can not find the answer in my book. How am I supposed to prepare this journal entry: 03/01-Owner contributed $50,000 of cash and $100,000 building. The business will assume the $25,000 mortgage on the building. I know it would be a debit to cash for $50,000 and a debit to building for $100,000 then a credit to owner capital for $150,000. I get that, but am I supposed to do anything with the mortgage of $25,000 or is it just a stating that's what the business is doing?