Cullumber Electronics issues a $$355,500,3\%,10-$year mortgage note on December $31,2021.$ The proceeds from the note are to be Your answer is partially correct.

Show how the total mortgage liability should be reported on the balance sheet at December $31,2022.($Enter account name only

and do not provide descriptive information. Round answers to $0$ decimal places, e$.$g$.15,250.)$

Cullumber Electronics

Balance Sheet $($Partial$)$

December $31,2022$

Notes Payable

$

Notes Payable

$

eTextbook and Media

List of Accounts

used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate

taxes and insurance, of $$41,675.$ Payments are due on December $31.$

$($a$)$

Your Answer

Correct Answer

Your answer is correct.

Prepare an installment payments schedule for the first $4$ years. $($Round answers to $0$ decimal places, e$.$g$.15,250.)$