Help with question C

On June 30, Collins Management Company purchased land for $560,000 and a bullding for $840,000, paying $700,000 cash and issuing a 8% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semlannual payments of $35,000 on the principal plus the interest acerued fram the date of the preceding payment. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record the transaction on June 30 . Ju Feeotuck * Cheak My wot Determine what the company is acquiring and how they are paying for this purchase. b. Journalize the entry to record the payment of the first instaliment on December 31 c. Journalize the entry to record the payment of the second installment the following June 30 . June 30