Required information Problem 9-1B (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Stoops Entertainment purchases a bullding for $420,000, paying $100,000 down and borrowing the remaining $320,000, signing a(n) 7%,20-year mortgage. Installment payments of $2,480.96 are due at the end of each month, with the first payment due on January 31,2024. Problem 9-1B (Algo) Part 1 Required: 1. Record the purchase of the building on January 1, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Problem 9-1B (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Stoops Entertainment purchases a building for $420,000, paying $100,000 down and borrowing the remaining $320,000, signing a(n) 7%,20-year mortgage. Installment payments of $2,480,96 are due at the end of each month, with the first payment due on January 31,2024. Problem 9-1B (Algo) Part 2 2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Required information Problem 9-1B (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed beiow.] On January 1, 2024, Stoops Entertainment purchases a building for $420,000, paying $100,000 down and borrowing the remaining $320,000, signing a(n) 7%,20-year mortgage. Instaliment payments of $2,480.96 are due at the end of each month, with the first payment due on January 31,2024 Problem 91B(Algo) Part 3 3.a. Record the first monthly mortgage payment on January 31, 2024. -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