On January 1, 2023, Martineau Corp. issued a 5-year, 3% installment note payable for $128,000 to finance upgrading its current equipment. The companys year end is December 31. The repayment of $13,880 is done semi-annually on January 1 and July 1.

Do not enter dollar signs or commas in the input boxes.
Round all answers to the nearest whole dollar.

Assuming an equal installment amount of $13,880, fill in the following table and determine the total interest expense incurred over the 5-year term. Note: Due to rounding, make the reduction of the principal in the last payment equal to the remaining principal balance. This will ensure the ending principal balance is $0.

Date	Cash Payment	Interest Expense	Reduction of Principal	Principal Balance
Jul 1, 2023	Answer	Answer	Answer	Answer
Jan 1, 2024	Answer	Answer	Answer	Answer
Jul 1, 2024	Answer	Answer	Answer	Answer
Jan 1, 2025	Answer	Answer	Answer	Answer
Jul 1, 2025	Answer	Answer	Answer	Answer
Jan 1, 2026	Answer	Answer	Answer	Answer
Jul 1, 2026	Answer	Answer	Answer	Answer
Jan 1, 2027	Answer	Answer	Answer	Answer
Ju1 1, 2027	Answer	Answer	Answer	Answer
Jan 1, 2028	Answer	Answer	Answer	Answer