Required information The following information applies to the questions displayed below) On January 1, 2021. Stoops Entertainment purchases a building for $480,000, paying $110,000 down and borrowing the remaining $370,000 signing a 9%, 10 year mortgage Installment payments of $4,68700 are due at the end of each month with the first payment due on January 31, 2021 4 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.) 13 View transaction list Journal entry worksheet 1 Record the first monthly mortgage payment. Date January 31, 2021 General Journal Debit Credit ME 3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? (Round your answers to 2 decimal places.) Interest Expense Reducing the Carrying Value Fast payment