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[The following information applies to the questions displayed below.) On January 1, 2021, Stoops Entertainment purchases a building for $450,000, paying $120,000 down and borrowing

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[The following information applies to the questions displayed below.) On January 1, 2021, Stoops Entertainment purchases a building for $450,000, paying $120,000 down and borrowing the remaining $330,000, signing a 8%, 15-year mortgage Installment payments of $3,153.65 are due at the end of each month, with the first payment due on January 31, 2021 3-a. Record the first monthly mortgage payment on January 31, 2021. (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.) View transaction list Journal entry worksheet 1 Record the first monthly mortgage payment. Note: Enter debits before credits Debit Credit General Journal Date January 31, 2021 Required information The following information applies to the questions displayed below.) On January 1, 2021, Stoops Entertainment purchases a building for $450,000, paying $120,000 down and borrowing the remaining $330,000, signing a 8%, 15-year mortgage. Installment payments of $3,153.65 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 15 years are $567,657 ($3,153.65 * 180 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

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