Required information Problem 9-1B (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Stoops Entertainment purchases a building for $590,000, paying $100,000 down and borrowing the remaining $490,000, signing a(n) 7%, 10-year mortgage. Installment payments of $5,689.32 are due at the end of each month, with the first payment due on January 31, 2024. Problem 9-1B (Algo) Part 1 Required: 1. Record the purchase of the building on January 1, 2024. (If no entry is required for a particular transaction/event,elect "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the purchase of the building. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit 5 A Next >