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Pharcah Electronics issues a $361,500,6%,10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing a new research

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Pharcah Electronics issues a $361,500,6%,10-year mortgage note on December 31, 2021. 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 $49,116. Payments are due on December 31 (a) Prepare an installment payments schedule for the first 4 years. (Round answers to 0 decimal places, eg. 15,250.) Prepare the entries for (1) the loan and (2) the first installment payment. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. Round onswers to 0 decimal ploces eg. 15,250. Record joumal entries in the order presented in the problem.) (c) The parts of this question must be completed in order This pan wili be avallable when you complete the part above

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