please explain so that i understand how to do it

8) Fred Corp. purchased a building on January 1st by signing a long-term $3,750,000 mortgage with monthly payments of $60,500. The mortgage carries an interest rate of 9%. a. Write the journal entry to record the purchase of the building by signing the long-term mortgage. b. Write the journal entry to record the first monthly payment (Jan. 31st by Fred Corp. c. What is the balance in the Mortgage Payable account, after this first monthly payment is recorded? d. Write the journal entry to record the second monthly payment (Feb,28th) by Fred Corp. e. What is the balance in the Mortgage Payable account, after this second monthly payment is recorded