1 Part 1 of 4 2.5 oints eBook Print References ! 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 $500,000, paying $100,000 down and borrowing the remaining $400,000, signing a(n) 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, 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, select "No Journal Entry Required" in the first account field.)