! Required information [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $294,000, paying $54,000 down and borrowing the remaining $240,000, signing a 7%, 10-year mortgage. Installment payments of $2,786.60 are due at the end of each month, with the first payment due on January 31, 2021. Required: 1. Record the purchase of the building on January 1, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Date General Journal Debit Credit 1 240,000 January 01, 2021 Interest Receivable Notes Payable 240,000