Sarasota Co. receives $2,680,000 when it issues a $2,680,000, 6%, mortgage note payable to finance the construction of a building at December 31, 2019. The terms provide for annual installment payments of $200,000 on December 31. Prepare the journal entries to record the mortgage loan and the first two installment payments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Issuance of Note Dec. 31, 2019 Cash 2680000 Mortgage note Payable First Installment Payment Dec. 31, 2020 Mortgage note payable 392000 Interest on note 160800 Cash Second Installment Payment Credit 2680000 552800 Dec. 31, 2019 Cash Mortgage note Payable First Installment Payment Dec. 31, 2020 Mortgage note payable Interest on note Cash 2680000 392000 160800 Second Installment Payment Dec. 31, 2021 Mortgage note Payable 39200 Interest on note Cash 2680000 552800