Brief Exercise 9-2 (Algo) Record installment notes (LO9-2) On Jahuary 1, 2024, Hometowne Construction financed the purchase of a new buliding by borrowing $617,000 from the bank using a 30 -yes, 68 note paryable. Payments of $3,699.23 are due at the end of each month, with the first instalment due an January 31,2024. Record the issuance of the instaliment note poyable and the first monthily payment of no entry is required for a particular : transaction/event, select "No Journal Entry Required" in the first account field. Do not round your Intermediate calculations. Round your final answers to 2 decimal places.) Journal entry worksheet Record the first monthly payment. Brief Exercise 9-3 (Algo) Interpret an amortization schedule for an installment note (LO9-2) Presented below is a partial amortization schedule for a three-year installment note requiring monthly payments of $1,316.13. 1. What is the principal amount of the note? 2. What is the total number of monthly poyments? 3. What is the total cash pald over the entire period of the note? (Pound your answer to 2 decimal places.) 4. What is the total amount of interest paid over the entire period of the note? (Do not round your intermediate calculations. Round your answer to 2 decimal places.) 5. The portion of the monthly payment that reduces the carrying value (ncreases/decreases) over time