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34) (10 points) Suminski Flooring Company buys a building for $115,000, paying $30,000 cash and signing a 30-year mortgage note for $85,000 at 11% annual

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34) (10 points) Suminski Flooring Company buys a building for $115,000, paying $30,000 cash and signing a 30-year mortgage note for $85,000 at 11% annual interest. The payment will be made in equal monthly installments of $809. Prepare the journal entry for the (1) purchase and (2) the first monthly payment. (Round your answers to the nearest whole dollar number.) DR CR

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