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 $480,000, paying $120,000 down and borrowing the remaining $360,000, signing a 8%, 15-year mortgage. Installment payments of $3.440.35 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 decimal places.) Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value $ 300.000.00 01.01.2021 3 $ 275227 01/312021 02/28/2021 3.440.35 3.440.35 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 account fleld. Do not round Intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet Record the first monthly mortgage payment. Note: Enter debits before credits Date General Journal Credit January 31, 2021 Required Information 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 building for $480,000. paying $120,000 down and borrowing the remaining $360,000, signing a 8%, 15-year mortgage. Installment payments of $3,440.35 are due at the end of each month, with the first payment due on January 31, 2021. Problem 9-1B Part 4 4. Total payments over the 15 years are $619.263 ($3.440.35 x 180 monthly payments). How much of this is interest expense and how much is actual payment of the loan? Interest expense Actual payments on the loan