On January 1, 2024, Stoops Entertainment purchases a building for $540,000, paying $120,000 down and borrowing the remaining $420,000, signing a(n) 8%, 10-year mortgage. Installment payments of $5,095.76 are due at the end of each month, with the first payment due on January 31, 2024. 3-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan?