Check my work On January 1, 2021, Stoops Entertainment purchases a building for $500,000, paying $100.000 down and borrowing the remaining $400,000, signing a 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, 2021. Problem 9-13 Part 3 3-a. Record the first monthly mortgage payment on January 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 Record the first monthly mortgage payment. Required information Problem 9-1B Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below) On January 1, 2021, Stoops Entertainment purchases a building for $500,000, paying $100.000 down and borrowing the remaining $400,000, signing a 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, 2021 Problem 9-18 Part 4 4. Total payments over the 15 years are $647,156 ($3,595,31 180 monthly payments) How much of this is interest expense and how much is actual payment of the loan? Interest expense Actual payments on the loan