Required information [The following information applies to the questions displayed below.) On January 1, 2024, Gundy Enterprises purchases an office building for $360,000, paying $60,000 down and borrowing the remaining $300,000, signing a 7%, 10-year mortgage. Installment payments of $3,483.25 are due at the end of each month, with the first payment due on January 31, 2024. 3-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3a Req 3b Record the first monthly mortgage payment on January 31, 2024. Note: 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-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of th Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3a Req 3b Record the first monthly mortgage payment on January 31, 2024. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account fiel not round intermediate calculations. Round your final answers to 2 decimal places. No Date General Journal 1 January 31, 2024 Buildings Cash Req 30 Req 3b > Debit Credit 360,000.00 ( 60,000.00 3-a. Record the first monthly mortgage payment on January 31, 2024. 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3a Req 3b How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? Note: Round your answers to 2 decimal places. Interest Expense First payment Reduction in Carrying Value