. Your answer is partially correct. Shamrock, Inc. issues a $550,000, 10%, 10-year mortgage note on December 31, 2017, to obtain financing for a new building. The terms provide for annual installment payments of $89,510. Prepare the entry to record the mortgage loan on December 31, 2017, and the first installment payment on December 31, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Debit 550,000 Dec 31, 2017 550,000 Dec. 31, 2018 Mortgage Payable 34,510 55,000 89,510 e Textbook and Media List of Accounts Attempts: 1 of 3 used Submit Answer Send to Gradebook