Fixed Asset Purchases with Note On June 30, Rioux Management Company purchased land for $640,000 and a building for $960,000, paying $800,000 cash and issuing a 996 note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $40,000 on the principal plus the interest accrued from the date of the preceding payment. For a compound transaction, if an amount box does not require an entry, leave it blank. Hide a. Journalize the entry to record the transaction on June 30 June 30 Building 960,000 Land 640,000 Note Payable 800,000 Cash 800,000