On December 31, 2017, James, Inc., borrowed \(\$ 300,000\) on a six percent, 20 -year mortgage note payable. The note is to be repaid in equal semiannual installments of \(\$ 12,979\) (beginning July 1, 2018). Prepare journal entries to reflect

(a) the issuance of the mortgage note payable,

(b) the payment of the first installment on July 1, 2018, and

(c) the payment of the second installment on December 31, 2018. Round amounts to the nearest dollar.