3 Part 3 of 4 eBook [The following information applies to the questions displayed below.] On January 1, 2024, Stoops Entertainment purchases a building for $480,000, paying $110,000 down and borrowing the remaining $370,000, signing a(n) 9%, 10-year mortgage. Installment payments of $4,687.00 are due at the end of each month, with the first payment due on January 31, 2024. 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. Req 3B to 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.) Req 3A First payment Interest Expense Reduction in Carrying Value

[1 he rowowng intormation appwes to the questions olsplayed Defow] On January 1, 2024, Stoops Entertainment purchases a bulding for \$480,000, paying $110,000 down and borrowing the remaining $370,000, signing a(n) 9%, 10 -year mortgage. Installment payments of $4,687,00 are due at the end of each month, with the first payment due on January 31,2024 . 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. Huw imuch of the fint prayment goes to interest expense and how much goes to reducing the carrying value of the loam? (Hound your answers to 2 decimal places. Do not round intecomediate calculations.)