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Oriole Electronics issues a R$352,000, 4%, 10-year mortgage note on December 31, 2024. The proceeds from the note are to be used in financing a
Oriole Electronics issues a R$352,000, 4%, 10-year mortgage note on December 31, 2024. The proceeds from the note are to be 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 R$43,398. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to 0 decimal places, e.g. 15,250.) Annual Interest Period Dec. 31, 2024 2025 2026 2027 2028 R$ Cash Payment List of Accounts Date R$ Interest Expense R$ Account Titles and Explanation Reduction of Principal Prepare the entries for (1) the loan and (2) the first installment payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 15,250. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for
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