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Required information The following information applies to the questions displayed below) On January 1, 2021, Gundy Enterprises purchases an office building for $184,000, paying $44,000

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Required information The following information applies to the questions displayed below) On January 1, 2021, Gundy Enterprises purchases an office building for $184,000, paying $44,000 down and borrowing the remaining $140,000, signing a 7%, 10 year mortgage Installment payments of $1,625,52 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) View transaction list Journal entry worksheet > Record the purchase of the building: 2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 1/1/2021 1/31/2021 2/28/2021

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