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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

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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 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 1 Record the purchase of the building Net Enter debits before credits General Journal Debit Date January 01, 2021 Credit

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