Laverne purchased a new piece of equipment to be used in its new facility. The $440,000 piece of equipment was purchased with a $66,000 down payment and with cash received through the issuance of a $374,000, 6%, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $88,786 on December 31. Prepare an installment payments schedule for the first five payments of the notes payable. (Round answers to 0 decimal places, e.g. 125.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount 1 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 2 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 3 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 4 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 5 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount *