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Problem 9-1B Record and analyze installment notes (LO9-2)

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On January 1, 2021, Stoops Entertainment purchases a building for $610,000, paying $110,000 down and borrowing the remaining $500,000, signing a 9%, 15-year mortgage. Installment payments of $5,071.33 are due at the end of each month, with the first payment due on January 31, 2021.

2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

Date	Cash Paid	Interest Expense	Decrease in Carrying Value	Carrying Value
01/01/2021
01/31/2021
02/28/2021