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Cullumber Company receives $252,000 when it issues a $252.000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022.

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Cullumber Company receives $252,000 when it issues a $252.000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual installment payments of $42,000 on December 31. (a1) Prepare an amortization schedule of a mortgage note for two years. Annual Interest Period Cash Payment Interest Expense Issue $ $ date 12/31/23 12/31/24 eTextbook and Media Reduction. of Principal $ $ Princi Balan

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