Question 2 incomplete answer Marked out of 2.00 P Flag question Installment Term Loan On December 31, 2009, Beam, Inc., borrowed $850,000 on an 8%, 10-year mortgage note payable. The note is to be repaid in equal quarterly installments of $31,073 (beginning March 31, 2010). Prepare journal entries to reflect (a) the issuance of the mortgage note payable. (b) the payment of the first installment on March 31, 2010, and (c) the payment of the second installment on June 30, 2010. Round amounts to the nearest dollar Date General Journal Description Debit Credit Support Dec 31 Borrowed a mortgage note payable. b) Mar 31 interest Expense OOOOOOO To record quarterly payment. Jun 30 Mortgage Note Payable Cash Mortgage Note Payable Please interest Expe Next