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*E10-24 Yancey Co. receives $300,000 when it issues a $300,000, 10%, mortgage note pay- able to finance the construction of a building at December 31,

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*E10-24 Yancey Co. receives $300,000 when it issues a $300,000, 10%, mortgage note pay- able to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $50,000 on December 31 Instructions the jou rnal entries to record the mortgage loan and the first two installment payments

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