On June 30, Mystic Mountain Game Company purchased land for \(\$ 250,000\) and a building for \(\$ 690,000\), paying \(\$ 240,000\) cash and issuing an \(8 \%\) note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of \(\$ 35,000\) on the principal plus the interest accrued from the date of the preceding payment. Journalize the entry to record

(a) the transaction on June 30,

(b) the payment of the first installment on December 31, and

(c) the payment of the second installment the following June 30 .objs. \(2,3,4\)