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Manitoba Corporation issued a 10 year, 7%, $340,000 note payable to finance the construction of a new building on August 31, 2021. The terms provide

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Manitoba Corporation issued a 10 year, 7%, $340,000 note payable to finance the construction of a new building on August 31, 2021. The terms provide for semi- annual instalment payments on February 28 and August 31. Required: Prepare the journal entries to record the first and second instalment payments assuming the payment is a blended payment of $13,240. (Round to two decimal places)

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