Required information Problem 9-1A (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below] On January 1, 2024, Howell Enterprises purchases a building for $151,000, paying $41,000 down and borrowing the remaining $110,000, signing a 7%, 10-year mortgage. Installment payments of $1,277.19 are due at the end of each month, with the first payment due on January 31, 2024. Problem 9-1A (Algo) Part 3 3-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan?

Required information Problem 9-1A (Algo) Record and anolyze instollment notes (LO9.2) The following information applies to the guestions idsployed below] On Janusty 1, 2024, Hewel Enterpnses purchases a bulding for $151,000, paying $41,000 down and borrowing the with the first payment due on January 31,2024 Problem 9-1A (Algo) Part 3 3-a. Record the first montlily mortgoge payment on Janvary 31.2024 3.b. How much of the first payment gons to interest expense and how much goes to reducing the carrying value of the loan