On January 1, 2024, Gundy Enterprises purchases a building for $360,000, paying $60,000 down and borrowing the remaining $300,000, signing a 7%, 10-year mortgage. Installment payments of $3,483.25 are due at the end of each month, with the first payment due on January 31, 2024. Problem 9-1A (Static) Part 1 equired: Record the purchase of the building on January 1, 2024. (If no entry is required for a particular transaction/event, select "No ournal Entry Required" in the first account field.)

On January 1, 2024, Gundy Enterprises purchases a building for $360,000, paying $60,000 down and borrowing the remaining $300,000, signing a 7%, 10-year mortgage. Installment payments of $3,483.25 are due at the end of each month, with the first payment due on January 31,2024. oblem 9-1A (Static) Part 1 quired: ecord the purchase of the building on January 1, 2024. (If no entry is required for a particular transaction/event, select "No irnol Entry Required" in the first occount field.)