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Blossom Electronics issues a $404,500,3%,10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing a new research

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Blossom Electronics issues a $404,500,3%,10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installiment payments, exclusive of real estate taxes and insurance, of $47,420. Payments are due on December 31. (a) Prepare an installment payments schedule for the first 4 years, (Round answers to 0 decimal places, es. 15,250.)

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