I am looking to get some help with this accounting problem, including the full journal entry at the bottom with the NET INCOME portion filled out also. Thanks in advance

Recording and Assessing the Effects of Installment Loans On December 31, 2015, Thomas, Inc., borrowed $700,000 on a 12%, 15-year mortgage note payable. The note is to be repaid in equal semiannual installments of $50,854 (payable on June 30 and December 31). Required a. Prepare journal entries to record (1) the issuance of the mortgage note payable, (2) the payment of the first installment on June 30, 2016, and (3) the payment of the second installment on December 31, 2016. Round amounts to the nearest dollar. General Journal Date Description Debit Credit 12/31/2015 6V30/2016 Interest expense 0 12/31/2016Interest expense 0 b. Post the journal entries from part a to their respective T-accounts Cash (A) Mortgage Note Payable (L) Interest Expense (E) 12/31/2015 06/30/2016 12/31/2016 12/31/2015 06/30/2016 12/31/2016 12/31/2015 06/30/2016 0 12/31/2016 0 0 c. Record each of the transactions from part a in the financial statement effects template Balance Sheet Income Statemen Noncash Contrib. Transaction Cash Asset + Liabilities + Earned Capital Assets Capital Revenue Expenses 12/31/15 Borrow $700,000 on a 15-year mortgage note payable 6/3016 Interest payment on note 12/31/16 Interest payment on note $