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Required information Problem 9-18 (Algo) Record and analyze installment notes (LO9-2) [The following information opplies to the questions displayed below] On January 1,2024, Stoops Entertainment purchases a building for $530,000, paying $100,000 down and borrowing the remaining $430,000, signing a(n) 7%, 15.year mortgage. Instalment payments of $3,864.96 are due at the end of each month, with the first payment due on January 31, 2024. Problem 9-1B (Algo) 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.) Journal entry worksheet Note: Enter debits before credits. 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? Complete this question by entering your answers in the tabs below. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? (Round your answers to 2 decimal places. Do not round intermediate calculations.) 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 $530,000, paying $100,000 down and borrowing the remaining $430,000, signing a(n) 7%,15-year mortgage. Installment payments of $3,864.96 are due at the end each month, with the first payment due on January 31, 2024. Problem 9-1B (Algo) Part 4 Total payments over the 15 years are $695,693($3,864.96180 monthly payments). How much of this is interest expense and how nuch is actual payment of the loan? (Round your final answers to the nearest whole dollar amount.)

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