Question: Problem 9-1B Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below] On January 1, 2021, Stoops Entertainment purchases a
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Problem 9-1B Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below] On January 1, 2021, Stoops Entertainment purchases a bullding for $550,000, paying $110,000 down and borrowing the remaining $440,000, signing a 9%,15-year mortgage. Installment payments of $4,462.77 are due at the end of each month, with the first payment due on January 31, 2021. Problem 9-1B Part 3 3-a. Record the first monthly mortgage payment on January 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first accouht fleld. Do not round intermediate calculations. Round your final answers to 2 decimal places.) Journal entry worksheet Record the first monthly mortgage payment. Note: twter debits before credits. Dur answers to 2 decimal places.) to interest expense and how much goes to reducing the carrying value of
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