Question
Part 3 of 4 2 pos Problem 9-1A (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below)
Part 3 of 4 2 pos Problem 9-1A (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below) On January 1, 2024, Bloomfield Enterprises purchases an office for $140,000, paying $40,000 down and borrowing the remaining $100,000, signing a 9%, 10-year mortgage. Installment payments of $1.266.76 are due at the end of each month, with the first payment due on January 31, 2024 look Problem 9-1A (Algo) Part 3 A 3-a. Record the first monthly mortgage payment on January 31, 2024. P 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? Complete this question by entering your answers in the tabs below. Reg 3 Req 36 Record the first monthly mortgage payment on January 31, 2024. (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 transactions View journal entry worksheet No Date General Journal Bonds Payable January 31, 2024 Cash Debit Credit 140,000.00 140,000.00
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