Question: please answer in 10mins!! URgent!! Question 16 (6 points) ACME Inc. issued a 10 year, 6%,$340,000 note payable to finance the construction of a new

please answer in 10mins!! URgent!!

Question 16 (6 points) ACME Inc. issued a 10 year, 6%,$340,000 note payable to finance the construction of a new building on August 31, 2021. The terms provide for semi-annual instalment payments on February 28 and August 31. Required: Prepare the journal entries to record the first and second instalment payments assuming the payment is a blended payment of $11,240. (Round to two decimal places)

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