Q 12 - Khamis Electronics issues a $700,000, 10-year, 7% mortgage note payable on December 31, 2020, to help finance a plant expansion. The terms of the note provide for semi-annual blended payments of S49,253. Payments are due on June 30 and December 31. Instructions (a). Prepare an instalment payment schedule for the first two years. Round all calculations to the nearest dollar. (1.7 marks) (b). Prepare the entries for (1) the loan and (2) the first two instalment payments on June 30, 2021, and December 31, 2021. (1.9 marks) (c). Show how the total mortgage liability should be reported on the balance sheet at December 31, 2021. (1.4 marks)