Teal Mountain Construction Inc. needed financing to buy two Case graders. Teal Mountain receives $320,000 on January 1,2025 , when it issues a 5-year, 5\% mortgage note payable. The terms provide for semi-annual instalment payments on July 1 and January 1 , with fixed principal amounts. (a) Your answer is correct. Calculate the fixed principal amount required each six-month period. Fixed principal portion $ Prepare an instalment payment schedule for the first three interest periods. Prepare an instalment payment schedule for the first three interest periods. Provide the balance sheet disclosure for the mortgage note payable at December 31,2025 , being specific about the classifications