On June 30, Collins Management Company purchased land for $640,000 and a building for $960,000, payling $800,000 eash and issuing a 8% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $40,000 on the principal plus the interest acorued from the date of the preceding payment. If an amount box does nok require an entry, leave it blank. Assume 360 days in a year. a. Journalize the entry to record the transaction on June 30 . b. Journalize the entry to record the payment of the first instaliment on December 31 . c. Joumalize the entry to record the parment of the second instalment the following June 30