Required information

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ Stoops Entertainment purchases a building for $$590,000,$ paying $$100,000$ down and borrowing the remaining $$490,000,$ signing a$($n$)7\%,10-$year mortgage. Installment payments of $$5,689\mathrm{.}32$ are due at the end of each month, with the first payment due on danuary $31,2024.$

Required:

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.$)$

Journal entry worksheet

$1$

Record the purchase of the building.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,2024,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Prev

${12}^{}34$

of $10$

Next