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Sunland Resort Corp issued a 20 -year, 8%,$235,000 mortgage note payable to finance the construction of a new building on December 31,2024. The terms provide

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Sunland Resort Corp issued a 20 -year, 8%,$235,000 mortgage note payable to finance the construction of a new building on December 31,2024. The terms provide for $ annual instalment payments on June 30 and December 31 . (a) Your answer is partially correct. Prepare the journal entries to record the mortgage note payable and the first two instalment payments assuming the payment is a fixed principal payment of 55, Bj5 (Rou answers to O decimal places, es, 5,276 . List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered Do not indent marual no entry is required, select "No Entry" for the dccount titles and enter O for the amounts. Record journal entries in the order presented in the

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