Blossom Company receives $$312,000$ whin it issues a $$312,000,10\%,$ mortgage note payable to finance the construction of a building at December $31,2025.$ The terms provide for annual installment payments of $$52,000$ on December $31.$

Prepare the journal entries to record the mortgage loan and the first two installment payments. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit