On July 1, 2020, Coronado Ltd, borrowed $16,500 by signing a two-year 4% note payable. The note is payable in two annual instalments of $8.748 on June 30. The company records adjusting journal entries annually at year end on December 31, (a) Your answer is partially correct. Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, eg 5.255.) Cash Payment Interest Expense Reduction of Principal Principa Annual Interest Period July 1, 2020 June $ 30. 660 2021 June 30. 2022