Required information Problem 9-18 Record and analyze installment notes (L09-2) {The following information applles to the questions displayed below.) On January 1, 2021, Stoops Entertainment purchases a building for $500,000, paying $100,000 down and borrowing the remaining $400,000, signing a 7%, 15-year mortgage Installment payments of $3,595.31 are due at the end of each month, with the first payment due on January 31, 2021 Problem 9-18 Part 1 Required: 1. Record the purchase of the building on January 1, 2021 (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) NO General Journal Debit Credit 1 500,000 Date January 01, 2021 Buildings Cash Bonds Payable 100.000 400,000 Required information Problem 9-1B Record and analyze installment notes (L09-2) [The following information applies to the questions displayed below) On January 1, 2021. Stoops Entertainment purchases a building for $500,000, paying $100.000 down and borrowing the remaining $400,000, signing a 7%, 15-year mortgage Installment payments of $3,595 31 are due at the end of each month, with the first payment due on January 31, 2021. Problem 9-1B Part 2 2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 elecimal places.) Date Cash Paid Interest Expense Decrease in Carrying Value 01/01/2021 01/31/2021 02/28/2021 Carrying Value $ 400,000.00 398,740.02 397.472.69 $ $ 3,593.31 $ 3,503.31 2,333 33 2,325 98 1,259.98 1.26733