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 $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 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.) View transaction list Journal entry worksheet 1 Record the purchase of the building. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Buildings Cash Notes Payable View general journ Record entry Clear entry