Required information Skip to question [The following information applies to the questions displayed below.] On January 1, 2021, Stoops Entertainment purchases a building for $420,000, paying $120,000 down and borrowing the remaining $300,000, signing a 8%, 15-year mortgage. Installment payments of $2,866.96 are due at the end of each month, with the first payment due on January 31, 2021. 3-a. Record the first monthly mortgage payment on January 31, 2021. (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.) 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.) This is the last question in the assignment. To submit, use Alt + S. To access other questions, proceed to the question map button.Next Visit question mapQuestion 3 of 3 Total3 of 3 Prev