Brief Exercise 15-07 Your answer is partially correct. Try again. Sandhill I installment payments of $140,000. .0% 1-year mortgage note on December 31, 2020 to obtain fina ing for a new building. The terms provide for an al Prepare the entry to record the mortgage loan on December 31, 2020, and the first installment payment on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020Cash 770,000 770,000 Dec. 31, 2021