Larkspur Construction Inc. needed financing to buy two Case graders. Larkspur receives $ 390,000 on January 1, 2022, when it issues a 5-year, 5% mortgage note payable. The terms provide for semi-annual instalment payments on June 1 and January 1, with fixed principal amounts. Calculate the fixed principal amount required each six-month period. Fixed principal portion $ eTextbook and Media List of Accounts Question Part Score --/0.5 Prepare an instalment payment schedule for the first three interest periods. LARKSPUR CONSTRUCTION INC. Instalment Payment Schedule - Fixed Principal Payments Interest Period Cash Payment Interest Expense Reduction of Principal Principal Jan. 1. 2022 $ $ $ $ July 1. 2022 48750 Jan. 1. 2002 47775 Prepare an instalment payment schedule for the first three interest periods. LARKSPUR CONSTRUCTION INC. Instalment Payment Schedule - Fixed Principal Payments Interest Period Cash Payment Interest Expense Reduction of Principal Principal ! Jan. 1. 2022 $ July 1. 2022 48750 Jan. 1. 2023 47775 July 1. 2023 46800 e Textbook and Media List of Accounts Date Account Titles and Explanation Debit Credit Jan. 1, 2022 July 1, 2022 Dec. 31, 2022 Jan. 1, 2023 July 1, 2023 Provide the balance sheet disclosure for the mortgage note payable at December 31, 2022, being specific about the classifications. LARKSPUR CONSTRUCTION INC. Balance Sheet (Partial) December 31, 2022 e Textbook and Media List of Accounts