On June 30, Collins Management Company purchased land for $500,000 and a building for $540,000, paying $360,000 cash and issuing a 6\% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $34,000 on the principal plus the interest accrued from the date of the preceding parymont. Joumalize the entry to record (a) the transaction on June 30 (b) the payment of the first installment on December 31 , and (c) the palyment of the second installment the following June 30 . Scroll down to access pages 2 through 3 of the joumal. General fournal instructions. a. Journalie the entry to record the transaction on June 30. b. Joumalire the entry to record the payment of the first installment on Decernber 31 . b. Joumalize the entry to record the payment of the first instaliment on December 31 . C. Joumaice the enty to record the payment of the second instaliment the following June 30