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Ayayai purchased a new piece of equipment to be used in its new facility. The $350,000 piece of equipment was purchased with a $35,000 down
Ayayai purchased a new piece of equipment to be used in its new facility. The $350,000 piece of equipment was purchased with a $35,000 down payment and with cash received through the issuance of a $315,000, 6%, 5-year mortgage payable issued on January 1. 2022. The terms provide for annual installment payments of $74,780 on December 31I Prepare an installment payments schedule for the five payments of the notes payable. (Round answers to O decimal places, eg 15,250.)
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