On June 1, 2023, Oriole Corporation approached Silverman Corporation about buying a parcel of undeveloped land. Silverman was asking $258,000 for the land and Oriole saw that there was some flexibility in the asking price. Oriole did not have enough money to make a cash offer to Silverman and,proposed to give, in return for the land, a $305,000, five-year promissory note that bears interest at the rate of 4%. The interest is to be paid annually to Silverman on June 1 of each of the next five years. Silverman insisted that the note taken in return become a mortgage note. Silverman accepted the amended offer, and Oriole signed a mortgage note for $305,000 due June 1, 2028. Oriole would have had to pay 10% at its local bank if it were to borrow the cash for the land purchase. Silverman, on the other hand, could borrow the funds at 9%. Both Oriole and Silverman have calendar year ends. Compare the balances of the two different notes payable and related accounts at December 31, 2023. Be specific about the classifications on the statement of financial position. Mortgage Note Payable Instalment Note Payable