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Required information [ The following information applies to the questions displayed below. ] On January 1 , 2 0 2 4 , Bloomfield Enterprises purchases

Required information
[The following information applies to the questions displayed below.]
On January 1,2024, Bloomfield Enterprises purchases a building for $261,000, paying $51,000 down and borrowing the remaining $210,000, signing a 7%,10-year mortgage. Installment payments of $2,438.28 are due at the end of month, with the first payment due on January 31,2024.
1. Record the purchase of the building on January 1,2024.
2. Complete the first three rows of an amortization schedule.
3a. Record the first monthly mortgage payment on January 31,2024.
3b. How much of the first payment goes to interest spend and how much goes to reducing the caring value of the loan?
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