George's Coney Island Hot Dogs (GCIHD) has an opportunity to buy the building they operate in for $1,050,000. GCHID plans to pay $50,000 upfront in cash and take on a Notes Payable of $1,000,000 on January 1, 2022. The Notes Payable will be paid monthly over the next 15 years at an interest rate of 6.5%. GCIHD has requested your assistance in performing the following requirements: 1. What is the monthly payment on the Notes Payable? (2 pts) 2. What is the required journal entry on 1/1/2022 to record the purchase of the building and issuance of the Notes Payable? (1 pt) 3. What are the required journal entries at the end of January 2022, February 2022, and March 2022 by GCIHD to record the monthly payments (i.e., the first 3 monthly payments? (3 pts) 4. What is the total amount paid over the 15 years related to the Notes Payable? (2pts) 5. What is the total interest paid over the 15 years related to the Notes Payable? (2pts) Note: Please perform a Loan Amortization schedule to assist with answering questions 3-5