On January 1, 2021, Gundy Enterprises purchases an office building for $283,000, paying $53,000 down and borrowing the remaining $230,000, signing a 8%, 10-year mortgage. Installment payments of $2,790.53 are due at the end of each month, with the first payment due on January 31, 2021.

Record the purchase of the building on January 1, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

Record the first monthly mortgage payment.

Total payments over the 10 years are $334,864 ($2,790.53 120 monthly payments). How much of this is interest expense and how much is actual payment of the loan?