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Installment Term Loan

On December $31,$ Beam, Inc., borrowed $$550,000$ on an $8\%,10-$year mortgage note payable. The note is to be repaid in equal quarterly installments of $$20,106($beginning March $31).$ Prepare journal entries to reflect $($a$)$ the issuance of the mortgage note payable, $($b$)$ the payment of the first installment on March $31,$ and $($c$)$ the payment of the second installment on June $30.$ Round amounts to the nearest dollar.