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 $450,000, paying $100,000 down and borrowing the remaining $350,000, signing a 7%, 20-year mortgage. Installment payments of $2,713.55 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 | $ 350,000.00 01/01/2021 01/31/2021 $ 2,713.55 02/28/2021 2,713.55 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 $450,000, paying $100,000 down and borrowing the remaining $350,000, signing a 7%, 20-year mortgage. Installment payments of $2,713.55 are due at the end of each month, with the first payment due on January 31, 2021. 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 field. Do not round intermediate calculations. Round your final answers to 2 decimal places.) Answer is not complete. General Journal Debit Credit No 1 Date January 31, 2021 Interest Expense Notes Payable Cash 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 $450,000, paying $100,000 down and borrowing the remaining $350,000, signing a 7%, 20-year mortgage. Installment payments of $2,713.55 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 20 years are $651,252 ($2,713.55 x 240 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 ne loan