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Problem $9-1$A $($Static$)$ Record and analyze installment notes $($LO$9-2)$

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On January $1,2024,$ Gundy Enterprises purchases a building for $$360,000,$ paying $$60,000$ down and borrowing the remaining $$300,000,$ signing a $7\%,10-$year mortgage. Installment payments of $$3,483\mathrm{.}25$ are due at the end of each month, with the first payment due on January $31,2024.$

Problem $9-1$A $($Static$)$ Part $1$

Required:

$1.$ Record the purchase of the building on January $1,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$