Saved Help Save & OMEWORK ASSIGNMENT CH 0 Required information [The following information applies to the questions displayed below) On January 1, 2021, Gundy Enterprises purchases an office building for $228,000, paying $48.000 down and borrowing the remaining $180,000, signing a 8%, 10 year mortgage Installment payments of $2,183.90 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.) Journal entry worksheet 1 Record the purchase of the building, Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general Journal 0 Required information [The following information applies to the questions displayed below) On January 1, 2021, Gundy Enterprises purchases an office building for $228,000, paying $48,000 down and borrowing the remaining $180,000, signing a 8%, 10-year mortgage Installment payments of $2,183.90 are due at the end of each month, with the first payment due on January 31, 2021 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 VIRTIRILIR 0 Required information Journal entry worksheet > Record the first monthly mortgage payment. Note: Enter debits before credits. Debit Credit Date General Journal January 31, 2021 View general journal Clear entry Record entry 4. Total payments over the 10 years are $262,068 ($2,183.90 120 monthly payments) How much of this is interest expense and how much is actual payment of the loan? Interest expense Actual payments on the loan