Bramble purchased a new piece of equipment to be used in its new facility. The $375,000 piece of equipment was purchased with a $37,000 down payment and with cash received through the issuance of a $338,000, 12%, 5-year mortgage payable issued on January 1, 2022. The terms provide for annual installment payments of $93,764 on December 31.

Prepare an installment payments schedule for the five payments of the notes payable. (Round answers to 0 decimal places, e.g. 15,250.)

Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Bala Issue Date $ 1 $ $ $ 2 3 4 5