Required information Record the first monthly mortgage payment. Note: Enter debits before credits Date General Journal Debit Credit January 31, 2021 Notes Payable Interest Expense 826.81 1,200.00 Cash 2,026.81 Record entry Clear entry View general journal mces 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? (Round your answers to 2 decimal places.) Reducing the Carrying Value Interest Expense First payment